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African Export-Import Bank’s (Afreximbank) Advisory and Capital Markets (ACMA) has been mandated as the financial advisor to raise capital for the $4.5 billion EG-27 liquefied natural gas (LNG) project being developed by Sociedad Nacional de Gas de Guinea Ecuatorial (Sonagas), Equatorial Guinea’s national gas company.

Under the terms of the advisory mandate, ACMA will leverage its financial structuring expertise and broad investor network to mobilise capital for the development of the EG-27 project, which represents the first phase in the development of Equatorial Guinea’s EBANO Field which holds 3.8 trillion cubic feet of proven gas reserves.

The project is expected to receive 360 million standard cubic feet per day of feed gas and to produce approximately 7,055 tons per day of LNG, or 2.4 million tonnes per annum, over a 20-year period.

Seen as a landmark initiative, the project has been strategically designed to monetise Equatorial Guinea’s natural gas resources and to promote industrialisation, with the goal of significantly enhancing the country’s role in global energy markets while contributing to regional energy security.