Energy in Equatorial Guinea
Encyclopedia
Energy in Equatorial Guinea is an industry
with plenty of potential, especially in the fields of oil
and natural gas
.
and diesel
-powered generators are used as backup power sources.
Electricity is provided by the national electricity company SEGESA
.
, oil has become Equatorial Guinea's most important export. , according to World Oil Equatorial Guinea's proven oil reserves were put at 1.28 Goilbbl. In 2005, oil production was estimated at 420000 oilbbl/d, of which crude oil accounted for over 90%. Domestic oil demand and net oil exports in 2004 were estimated at 2000 oilbbl/d and 369700 oilbbl/d, respectively. The national oil company is GEPetrol
.
. The country's natural gas reserves are located off Bioko
island, which is the site of the nation's capital, Malabo
, and mainly in the Zafiro and Alba oil and gas fields. Domestic consumption of natural gas is estimated for 2002 at 45 Gcuft. Natural gas is exported as liquefied natural gas
(LNG) produced by EG LNG
. The national gas company is Sonagas
.
Industry
Industry refers to the production of an economic good or service within an economy.-Industrial sectors:There are four key industrial economic sectors: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining, construction,...
with plenty of potential, especially in the fields of oil
Oil
An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....
and natural gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
.
Electric power
, electric power generating capacity stood at 15.4 MW, of which 20% was hydroelectric and 80% conventional thermal. Production in 2002 was estimated at 30 GWh, while consumption was placed at 25 GWh. However, poor management and aging equipment has resulted in prolonged power blackouts. As a result, small gasolineGasoline
Gasoline , or petrol , is a toxic, translucent, petroleum-derived liquid that is primarily used as a fuel in internal combustion engines. It consists mostly of organic compounds obtained by the fractional distillation of petroleum, enhanced with a variety of additives. Some gasolines also contain...
and diesel
Diesel engine
A diesel engine is an internal combustion engine that uses the heat of compression to initiate ignition to burn the fuel, which is injected into the combustion chamber...
-powered generators are used as backup power sources.
Electricity is provided by the national electricity company SEGESA
Segesa
SEGESA stands for Sociedad de Electricidad de Guinea Ecuatorial, in Spanish. It is the national electricity company of Equatorial Guinea.The company is based in Malabo, the capital....
.
Oil
Since 1995, when significant off shore oil discoveries were made in the Gulf of GuineaGulf of Guinea
The Gulf of Guinea is the northeasternmost part of the tropical Atlantic Ocean between Cape Lopez in Gabon, north and west to Cape Palmas in Liberia. The intersection of the Equator and Prime Meridian is in the gulf....
, oil has become Equatorial Guinea's most important export. , according to World Oil Equatorial Guinea's proven oil reserves were put at 1.28 Goilbbl. In 2005, oil production was estimated at 420000 oilbbl/d, of which crude oil accounted for over 90%. Domestic oil demand and net oil exports in 2004 were estimated at 2000 oilbbl/d and 369700 oilbbl/d, respectively. The national oil company is GEPetrol
GEPetrol
GEPetrol is the national oil company of the Equatorial Guinea. The company was founded in 2002 after the writing of a presidential decree. The company reports to the Ministry of Mines, Industry and Energy. GEPetrol's director is Cándido Nsue Okomo. The company maintains offices in Malabo and in...
.
Natural gas
, Equatorial Guinea had proven natural gas reserves estimated of 1.3 Tcuft, according to the Oil & Gas JournalOil & Gas Journal
The Oil & Gas Journal is a leading petroleum industry weekly publication with a worldwide coverage. It is headquartered in Tulsa, Oklahoma and the journal has a major presence in Houston, Texas. The journal is published by PennWell Corporation. Its publisher is Paul Westervelt, Vice President of...
. The country's natural gas reserves are located off Bioko
Bioko
Bioko is an island 32 km off the west coast of Africa, specifically Cameroon, in the Gulf of Guinea. It is the northernmost part of Equatorial Guinea with a population of 124,000 and an area of . It is volcanic with its highest peak the Pico Basile at .-Geography:Bioko has a total area of...
island, which is the site of the nation's capital, Malabo
Malabo
Malabo is the capital of Equatorial Guinea, located on the northern coast of Bioko Island on the rim of a sunken volcano....
, and mainly in the Zafiro and Alba oil and gas fields. Domestic consumption of natural gas is estimated for 2002 at 45 Gcuft. Natural gas is exported as liquefied natural gas
Liquefied natural gas
Liquefied natural gas or LNG is natural gas that has been converted temporarily to liquid form for ease of storage or transport....
(LNG) produced by EG LNG
EG LNG
EG LNG is a LNG company that operates a liquid natural gas terminal and plant in Malabo, Bioko Island, Equatorial Guinea. The LNG plant began operation in 2007 and the first cargo of LNG was delivered on 24 May 2007....
. The national gas company is Sonagas
Sonagas
Sonagas is the Equatorial Guinean national natural gas company. It was formed in 2005. It operates in conjunction with GEPetrol, the nation's principal petroleum company, and EG LNG, the nation's liquid natural gas company, to manage the nation's fossil fuel resources.The officers of the company...
.