The Ministry of Hydrocarbons of the Republic of Congo will launch the country’s comprehensive Gas Master Plan (GMP) at the African Energy Week (AEW) 2021
Comprising a framework that aims to incentivise the development of and investment in the Congo’s natural gas sector for the benefit of the country as a whole, the launch will present significant investment opportunities for both regional and international stakeholders.
Formulated by the Ministry of Hydrocarbons and Wood Mackenzie Ltd. under the direction of the country’s national oil company, the Société Nationale des Pétroles du Congo (SNPC), the GMP comprises a medium to long term strategy for natural gas utilisation that will facilitate the exploitation and development of the country’s natural gas resources, support economic diversification and growth, and contribute towards long-term energy security.
According to the Organization of the Petroleum Exporting Countries, the Republic of Congo has approximately 284 bcf of proven gas reserves. With both domestic and regional demand gradually increasing, particularly regarding gas-to-power generation, the GMP presents a comprehensive strategy for monetising reserves and spurring sectoral growth. Additionally, the GMP prioritises resource maximisation, economic growth and diversification, social benefits, government revenue and attracting investment.
The launch of the Republic of Congo’s GMP at AEW 2021’s aligns with the event’s agenda to open the dialogue on Africa’s gas miracle and its potential for both resource-rich markets and the wider region. By presenting stakeholders with valuable insight into current and emerging natural gas markets, and by explicating transformative gas plans such as that of the Congo’s, AEW 2021 aims to promote and drive investment into Africa’s natural gas sector.