Cameroon Draws 10yr Development Plan, to Build Sub-Regional Refinery in Kribi
Cameroon has announced plans to build a new refinery with an annual capacity of 5 million tonnes of hydrocarbons, being part of its 10-year development strategic plan (2020-2030). The sub-regional infrastructure should be built in Kribi, where gas production is already developing.
An investment of around 700 billion FCFA made by Golar LNG, this factory will also produce around 30,000 tonnes of domestic gas each year, as well as 5,000 barrels of condensate per day.
The idea of building a refinery in Kribi, officials said, stems from the fact that parts of southern Cameroon are already home to a gas platform and the Hilli Episeyo LNG carrier, converted into a floating natural gas liquefaction unit.
With a production capacity of 1.2 million tonnes of liquefied natural gas per year, this floating unit aims to anticipate the production of liquefied natural gas in Cameroon, pending the construction of a foot plant, not far away from the deep water port of Kribi, Agence Ecofin said in a report last weekend.
The ambition is to serve at least the Cemac sub-region (Central Africa, Congo, Gabon, Equatorial Guinea and Chad) and beyond. The production capacity of this future infrastructure is estimated at 5 million tonnes / year. The mode of financing chosen is “a partnership with the private sector.”
It will be recalled that the country’s only refinery (Sonara), located in Limbé in the southwest, was devastated by a fire on May 31, 2019. Agence Ecofin said that the Cameroonian government wants to create a duopoly in the matter, in the hydrocarbon sector.
By Chibisi Ohakah, Abuja