African Energy Chamber Calls for Protection of Gabon’s Oil and Gas Assets Amid Political Uncertainty
The African Energy Chamber (AEC) is sounding an alarm for the safety and security of oil and gas assets in Gabon, emphasizing the critical importance of uninterrupted energy operations for the nation’s economic advancement.
As political and military tensions escalate following the recent national elections, the AEC underscores the need to shield the energy sector from disruptions that could jeopardize the country’s progress.
Appeal for Protection Amid Political Turmoil
The AEC, serving as a representative voice of the African energy sector, is making a fervent appeal to political and military entities in Gabon to refrain from interfering with the country’s oil and gas assets and operations. This call comes as heightened tensions have emerged in the wake of the national elections, resulting in a group of senior military officers assuming control of the government.
The military’s action, framed as a response to concerns about transparency and inclusiveness in the electoral process, has raised alarms about the stability of the oil and gas industry, a cornerstone of Gabon’s economy.
Oil and Gas Assets: A Cornerstone of Gabon’s Economy
Gabon’s energy industry, spanning the entire value chain, is fundamental to its economic growth. With significant proven oil reserves of two billion barrels and substantial natural gas reserves of 1.2 trillion cubic feet, oil and gas operations are vital in generating income, creating jobs, and improving the livelihoods of the population.
Key projects such as the Hibiscus/Ruche development, Cap López oil terminal, and Liquefied Natural Gas facility underscore the sector’s contribution to Gabon’s progress.
Ensuring Uninterrupted Operations: A Collective Responsibility
In the face of the ongoing political upheaval, various active oil and gas companies in Gabon have affirmed that their operations remain unaffected, prioritizing worker safety and operational continuity. Companies such as TotalEnergies, Tullow, Perenco, Maurel & Prom, and BW Energy have reported maintaining normal operations. However, as tensions persist, concerns rise about the potential disruption of oil and gas activities.
AEC Advocates Collective Action for Industry Security
N Ayuk, Executive Chairman of the AEC, asserts the urgency of safeguarding Gabon’s oil and gas activities, as they are crucial to the country’s functioning, growth, and prosperity. Any disruption to these activities could pose significant challenges to the nation’s development. The AEC calls for a unified approach to ensuring the stability and security of Gabon’s energy sector amidst the current political turmoil.
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