Overview
Angola LNG is a liquefied natural gas project located in Soyo, Zaire province, at the mouth of the Congo River in northern Angola. The plant has a nameplate capacity of 5.2 million tonnes per annum (mtpa) of LNG, making it one of the largest LNG facilities in sub-Saharan Africa. The project processes associated gas that was previously flared from Angola’s offshore oil fields, converting it into exportable LNG, natural gas liquids (NGLs), and domestic gas supply.
Ownership Structure
Angola LNG is operated by a consortium of major international oil companies alongside the Angolan state oil company Sonangol:
| Shareholder | Stake |
|---|---|
| Sonangol | 22.8% |
| Chevron | 36.4% (operator) |
| TotalEnergies | 13.6% |
| ENI | 13.6% |
| BP | 13.6% |
Chevron serves as the operator through its subsidiary Cabinda Gulf Oil Company Limited (CABGOC), coordinating production, processing, and shipping logistics.
Operational Profile
The Angola LNG plant receives gas via a 355-kilometer subsea pipeline from offshore Blocks 0, 14, 15, 17, and 18. After processing, LNG is loaded onto carriers for export primarily to Asian and European markets. The facility also supplies butane and propane for domestic consumption and export.
The plant experienced significant operational challenges after its initial startup in 2013, including an extended shutdown for repairs and modifications. Following a comprehensive restart in 2016, Angola LNG has operated more consistently, contributing to Angola’s non-oil export revenues and helping reduce gas flaring in compliance with environmental commitments.
Economic Significance
Angola LNG is strategically important to the country’s fiscal and economic outlook for several reasons:
- Revenue diversification: LNG exports provide a revenue stream independent of crude oil pricing, supporting Angola’s economic diversification objectives. With Brent crude at approximately $74.50 per barrel, the government has incentive to maximize gas monetization.
- Flaring reduction: By capturing associated gas that would otherwise be flared, the project supports Angola’s environmental commitments and reduces waste of a valuable hydrocarbon resource.
- Domestic gas supply: The facility provides feedstock for the Soyo-based power generation and industrial projects that are part of Angola’s energy infrastructure development.
Capital Markets Relevance
While Angola LNG is not directly listed on BODIVA, the project’s revenues flow through Sonangol’s accounts and contribute to the sovereign fiscal balance. For investors in Angolan Treasury bonds and Treasury bills, LNG revenues strengthen the government’s debt-servicing capacity alongside crude oil income.
The global LNG market’s growth trajectory — driven by the energy transition and demand from Asia — positions Angola LNG as a potential beneficiary of structural demand increases. Expansion proposals have been discussed, though no final investment decision on a second train has been publicly confirmed. Investors tracking Angola’s hydrocarbon sector should monitor LNG pricing dynamics alongside the crude oil production level of approximately 1.03 million barrels per day.