Equatorial Guinea: Afreximbank Selected as Financial Advisor for EG-27 LNG Project

Pan-African financial institution the African Export-Import Bank (Afreximbank) has been appointed as financial advisor for the $4.5 billion EG-27 LNG project in Equatorial Guinea.

Led by Equatorial Guinea’s national gas company Sonagas, the advisory work will be managed by the bank’s Advisory and Capital Markets (ACMA) division. As part of the mandate, ACMA will structure and raise capital for the project, drawing on its expertise and investor networks.

EG-27 forms the initial phase of developing the EBANO Field, which holds 3.8 trillion cubic feet of proven gas reserves. The facility is expected to process 360 million standard cubic feet per day of feed gas and produce approximately 2.4 million tons of LNG per annum over a two-decade production lifecycle.