French independent Perenco has rubber-stamped a $1 billion plan to build a liquefied natural gas facility in Gabon.
The Central African country has abundant gas reserves, but has been slow to create the right legal and fiscal framework for investors to exploit this resource, so Perenco’s decision could be the stimulus the government in Libreville needs.
Perenco took a final investment decision on its groundbreaking project today, after presenting the project to Gabon’s Ministry of Oil & Gas late last year and the government’s technical approval of the development in December.
