EG LNG

Stock performance

History

EG LNG built a liquefaction plant at Punta Europa on Bioko Island that delivered its first cargo in May 2007. It is majority-owned by the US company that operated the nearby Alba gas field, Marathon Oil, which was acquired by ConocoPhillips in 2024, with Sonagas, Mitsui, and Marubeni as partners.

Business model

EG LNG liquefies natural gas from offshore fields and sells it under contracts to international buyers, with a single train of about 3.7 million tonnes a year capacity; since 2021 it has also processed gas from the Chevron-operated Alen field.

Market position

EG LNG is Equatorial Guinea's only LNG export plant and one of the established LNG suppliers in West Africa.

Country impact

LNG exports are one of the country's main sources of revenue, and keeping the plant supplied with gas as older fields deplete is central to Equatorial Guinea's economic outlook.