LNG exports. In 2023, the facility reached a milestone of delivering its 400th LNG cargo. Going forward, the development of new concessions aims to bolster LNG production at the facility. Specifically, the Chevron-operated Sanha Lean Gas Connection Project – valued at $300 million – comprises the development of a platform that ties into the existing Sanha Condensate complex and features pipelines connecting Block 0 and 14 to the Angola LNG facility. The project reached a final investment decision in 2021 and aims to address a supply gap at Angola LNG.
Beyond exploration and production, Chevron is spearheading low-carbon solutions across Angola’s oil and gas industry. The multinational signed an agreement with the government in October 2023 to explore low-carbon business opportunities, with the goal to utilize nature-based and technological carbon offsets – alongside lower-carbon intensity fuels such as hydrogen – to enhance the country’s production. This will be undertaken in conjunction with oil and gas initiatives and showcases Chevron’s future-oriented approach to energy development in Angola.
“Chevron’s recent signing of two RSCs further underscores the value of implementing a strong regulatory and fiscal environment in Africa. When governments open up the market through attractive fiscal terms, the industry will respond positively. This is clearly evident in Angola where a commitment to creating an enabling environment for doing business has and continues to attract foreign companies. Other countries in Africa should learn from this and adopt proactive measures to attracting foreign capital,” states NJ Ayuk, Executive Chairman of the AEC.
