Equatorial Guinea Energy Information

Equatorial Guinea Energy Research

- Equatorial Guinea's Energy & Climate Policy Framework: Equatorial Guinea plans a 2026 oil and gas licensing round, aiming to boost upstream development, gas utilisation, and electricity infrastructure. The country's economy heavily relies on hydrocarbons, contributing significantly to exports and state revenue. Recent reforms include fiscal incentives and extended exploration licenses. The government also targets a 35% GHG emissions reduction by 2030.

- Equatorial Guinea's Energy Companies: GEPetrol to redevelop Zafiro oil field post-ExxonMobil. Chevron and ConocoPhillips lead gas production. Segesa manages electricity.

- Equatorial Guinea's Energy Supply & Demand: Equatorial Guinea's energy supply has shifted, with gas dominating (82%) and oil declining. Total energy consumption peaked at 3.2 Mtoe in 2022 but fell to 2.9 Mtoe in 2023. Electricity generation, primarily from gas and hydro, remains stable at 1.8 TWh. Oil production has dropped significantly since 2012, while gas production saw recent growth before declining in 2023. GHG emissions have decreased since 2013.

- Equatorial Guinea's Energy Use & Price by Sector: "Final energy demand, driven by industry (84%), fluctuated significantly, peaking at 2.9 Mtoe in 2022 before dropping to 2.6 Mtoe in 2023. Industrial demand, primarily gas-powered, surged 20% annually from 2019 to 2022, then fell 13% in 2023. Transport and residential sectors each accounted for 8% of demand, with transport relying solely on oil and residential shifting from biomass to electricity."

- Equatorial Guinea's Issues & Prospects: Equatorial Guinea is expanding its energy sector, developing a refinery with Chinese partners, resuming hydropower projects, and advancing gas and LNG initiatives to boost production and reduce imports.

Equatorial Guinea Total Energy Production & Consumption

Following a significant increase since 2019 (around 12%/year), with a historic peak at 3.2 Mtoe in 2022, total energy consumption has decreased to 2.9 Mtoe in 2023. Between 2013 and 2018, total energy consumption fluctuated within a range of 2.6 to 3 Mtoe. There was a ten-fold increase in consumption from 2000 to 2013, culminating in 2013 at 3 Mtoe. A notable increase in energy consumption began after 2001, coinciding with the start of a new gas project. Total energy consumption per capita is rather high compared to the other sub-Saharan African countries, at 1.6 toe in 2023.

Source: Equatorial Guinea energy report

Interactive Chart Equatorial Guinea Total Energy Production & Consumption

Source: Global Energy & CO₂ data

Equatorial Guinea Oil Production & Consumption

Since 2012, when it reached 16.6 Mt, the production of crude oil and condensates has been decreasing by around 10%/year, reaching 5.5 Mt in 2023. It increased dramatically following the commissioning of the first field of Alba in 1996 and then the Zafiro field, reaching a peak of 19 Mt in 2005. About 85% of the production is in the form of crude oil and 15% as condensates. Crude oil production comes almost entirely from three fields - Zafiro, Ceiba, and Okume - while condensates come from the Alba field.

Source: Equatorial Guinea energy report

Interactive Chart Equatorial Guinea Crude Oil Production & Consumption

Source: Global Energy & CO₂ data

Interactive Chart Equatorial Guinea Refined Oil Products Production & Consumption

Source: Global Energy & CO₂ data

Equatorial Guinea Natural Gas Production & Consumption

The marketed production of gas declined by 12% to 7.3 bcm in 2023, after 2 years of rapid growth since 2020 (16%/year), reaching 8.3 bcm in 2022, a level comparable to that of 2017. Production declined rapidly decline between 2017 and 2020 (-9%/year). Gas production saw a significant surge between 2004 and 2013, peaking at 8.6 bcm, and remained roughly stable until 2017.

Since 2020, around 60% of the gas produced is exported as LNG, down from 75% in 2010.

Source: Equatorial Guinea energy report

Interactive Chart Equatorial Guinea Gas Production & Consumption

Source: Global Energy & CO₂ data

Equatorial Guinea GHG emissions and CO₂ emissions

In its updated NDC (2022), Equatorial Guinea set a GHG emissions reduction target of 35% by 2030 compared to 2010 levels, instead of 20% in the previous NDC. The GHG emissions reduction target for 2050 is unchanged and remains 50%. The national GHG emissions reduction budgets for each sector during 2022-2030 is currently underway.

Source: Equatorial Guinea energy report

Interactive Chart Equatorial Guinea CO₂ emissions

Source: Global Energy & CO₂ data