Equatorial Guinea is the world’s 31st-largest producer of natural gas and the country’s output decreased by 20% in 2023, over 2022. The country accounts for 0.33% of global production, with the world’s other largest producers being the US, Russia and Iran. GlobalData uses proprietary data and analytics to provide a complete picture of the natural gas sector in Equatorial Guinea in its report, Oil and Gas Upstream Production and Capex Outlook by Projects (Crude and Condensate and Natural Gas), Fields (Active, Planned and Announced), Region, Key Countries, Companies and Forecast, 2023-2027. Buy the report here.
Over the five years to 2023, production from Equatorial Guinea increased by a CAGR of 3% and is expected to drop by a CAGR of 13% between 2024 and 2028.
The largest producers of natural gas in Equatorial Guinea are Marathon Oil, Chevron and GEPetrol. Marathon Oil was the largest producer of natural gas in 2023 with output down by 13% on 2022.
Chevron was the second-largest producer, with output down by 11%, and GEPetrol was third with a decrease of 10% on the previous year.
There are two natural gas producing fields in Equatorial Guinea, all located offshore. The Gulf of Guinea has the majority of the natural gas fields in the country with two.
Role of natural gas in the energy transition
Natural gas plays a pivotal role in the global energy transition, serving as a transition fuel towards decarbonisation. As countries navigate the shift from fossil fuels to renewable energy sources, natural gas provides a lower-carbon alternative, aiding in reducing emissions and delivering reliable energy given the fluctuating availability of wind and solar power. Its versatility and abundance make it a key component in the evolving energy mix.
For more detailed analysis of natural gas sector in Equatorial Guinea, buy the report here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
