The first phase of the Congo LNG project started in late 2023 with the installation of the first floating LNG plant at the Marine XII offshore natural gas field. The Republic of the Congo exported its inaugural gas in February 2024, with the first LNG cargo departing from Pointe-Noire to Italy. In the second phase, LNG production will be boosted by a new vessel capable of producing 3.5 billion m³ and storing over 180,000 m³, aimed at maximizing the country’s vast gas reserves. Most of this output will be exported to Europe, generating an estimated €44 million in state revenue in 2024 alone.

With an estimated 10 trillion cubic feet of proved natural gas reserves at the beginning of 2024, LNG production represents a significant added value to the Congolese economy. To better leverage its resources, the Congolese government has implemented several initiatives aimed at defining a national gas strategy. During the Invest in Africa Forum, which took place in Paris in May 2024, the Republic of the Congo's Minister of Hydrocarbons Bruno Jean-Richard Itoua confirmed the formation of a gas master plan and comprehensive gas code, with the country poised to establish a national gas company by Q3 2024.

The plan is designed to promote gas utilization, while reducing the country's dependency on crude oil revenues. Traditionally an oil producer, the Republic of the Congo's average production in 2023 was 273,000 barrels per day of liquid fuels, with the oil sector contributing nearly 40% of GDP and 82% of export revenues. In 2022, 64 billion cubic feet of associated natural gas was either flared or reinjected into oil fields for enhanced recovery. The government has now committed to capturing, liquefying, and exporting this gas to boost national wealth and revenue.

New gas developments are anticipated as exploration activities are underway. TotalEnergies is preparing to drill an exploration well on the Marine XX license before the end of 2024, while Marine VI bis, operated by Eni, features several prospects, including Mbenga, Poalvou Deep and Ikalou SW, that have been developed over recent years. These initiatives are expected to further enhance the Republic of the Congo’s burgeoning gas sector and create potential synergies with other gas producers.

Meanwhile, Chinese Oil and gas company Wing Wah Oil Company’s Banga Kayo development – a $2 billion integrated energy project – is set to enhance gas utilization and boost revenue. The project will feature a gas processing plant, power generation facilities and a fertilizer production unit, showcasing a model for African producers to optimize resource exploitation and reduce dependence on crude oil revenues.

A key element of the Congolese government's gas monetization strategy is to use associated gas for domestic consumption and to power the country's primary electricity plant. With only 50% of the population having access to electricity in 2022, gas development could pave the way to energy security. Through its Integrated Project, Eni has built two gas-fired power plants to cut natural gas flaring and boost the commercialization of associated gas from the Marine XII and M'Boundi fields. Eni has also upgraded the power transmission and distribution network to extend electricity access to the densely populated Pointe-Noire area.