Energy in Equatorial Guinea
Energy in Equatorial Guinea is an industry with plenty of potential, especially in the fields of oil and natural gas.
Electric power
As of 2003, electric power generating capacity stood at 15.4 MW, of which 20% was hydroelectric and 80% conventional thermal. Production in 2002 was estimated at 30 GWh, while consumption was placed at 25 GWh. However, poor management and aging equipment has resulted in prolonged power blackouts. As a result, small gasoline and diesel-powered generators are used as backup power sources.
Electricity is provided by the national electricity company SEGESA.
Oil
Since 1995, when significant off shore oil discoveries were made in the Gulf of Guinea, oil has become Equatorial Guinea's most important export. As of 2005, according to World Oil Equatorial Guinea's proven oil reserves were put at 1.28 billion barrels (204×106 m3). In 2005, oil production was estimated at 420,000 barrels per day (67,000 m3/d), of which crude oil accounted for over 90%. Domestic oil demand and net oil exports in 2004 were estimated at 2,000 barrels per day (320 m3/d) and 369,700 barrels per day (58,780 m3/d), respectively. The national oil company is GEPetrol.
Natural gas
As of 2005, Equatorial Guinea had proven natural gas reserves estimated of 1.3 trillion cubic feet (37×109 m3), according to the Oil & Gas Journal. The country's natural gas reserves are located off Bioko island, which is the site of the nation's capital, Malabo, and mainly in the Zafiro and Alba oil and gas fields. Domestic consumption of natural gas is estimated for 2002 at 45 billion cubic feet (1.3×109 m3). Natural gas is exported as liquefied natural gas (LNG) produced by EG LNG. The national gas company is Sonagas.
References
This article incorporates public domain material from websites or documents of the Library of Congress Country Studies.
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