[ad_1]
Unveiled in April, the oil major Eni-Congo’s plan to increase its gas production is becoming clearer. Following a meeting with President Denis Sassou N’Guesso, Claudio Descalzi, chairman and CEO of the Italian company Eni, made important announcements on 2 August in Brazzaville.
“We took stock of the gas export project for which we had signed an agreement. It will start in the fourth quarter of 2023 and will eventually give the Congo the possibility of exporting nearly 4.5 billion tonnes of cubic metres of gas,” Descalzi told the press, adding that, within the framework of this “dynamic” cooperation, several dossiers in line with the 2022-2026 National Development Plan were emerging.
The article continues below
Free download
Get your free PDF: Top 200 banks 2019
The race to transform
Complete the form and download, for free, the highlights from The Africa Report’s Exclusive Ranking of Africa’s top 200 banks from last year. Get your free PDF by completing the following form
“We discussed the agricultural project, especially oil production for the biorefineries. This project, which has already started, will be carried out in several stages. The aim is to produce around 31,000 tonnes of oil in 2023, 60,000 tonnes in 2024, and 150,000 tonnes in 2025. We have started training farmers and signing contracts with them,” Descalzi said.
Increasing the number of strategic alliances
As part of the signing of the agreement on the gas export project, Brazzaville and Eni Congo agreed in April on the definition of “decarbonisation initiatives to promote sustainable energy transition in Congo.” This will involve developing renewable energies and an agricultural sector (not competing with the food sector) dedicated to producing raw materials necessary for biorefining. This decision follows the signing, in October 2021, of a memorandum of understanding to jointly develop the country’s biofuel sector, which sets the framework for the industrial production of castor oil to supply Eni’s biorefineries.
On 29 June, while presenting its results, Eni also reaffirmed its desire to increase the number of “strategic alliances” capable of guaranteeing Italy and Europe other sources of supply, amid a context of dependence on Russian gas. In fact, the initiatives are designed to provide, by 2025, the entire 20 billion cubic metres of gas that Russia delivers to Italy annually.
After signing new supply agreements with Algeria, Egypt and Congo-Brazzaville, the Italian major announced that opportunities could still arise in Libya, Angola, Mozambique and Indonesia.
Understand Africa’s tomorrow… today
We believe that Africa is poorly represented, and badly under-estimated. Beyond the vast opportunity manifest in African markets, we highlight people who make a difference; leaders turning the tide, youth driving change, and an indefatigable business community. That is what we believe will change the continent, and that is what we report on. With hard-hitting investigations, innovative analysis and deep dives into countries and sectors, The Africa Report delivers the insight you need.
[ad_2]
Source link