KEY POINTS
- Equatorial Guinea and Chevron sign a major gas deal on 30 January 2026 to develop new gas fields.
- Agreement includes potential expansion into neighbouring Cameroon, boosting regional energy cooperation.
- Project expected to increase gas output, create jobs, and attract foreign investment into the energy sector.
Officials from the Equatorial Guinea government and representatives of major oil companies, including Chevron, signed a pivotal gas development agreement in the capital, Malabo, on 30 January 2026. The deal marks a significant step in the West African nation’s efforts to expand its natural gas sector and strengthen regional energy cooperation.
According to sources, the agreement will allow Chevron to explore and develop new gas fields within Equatorial Guinea, with potential spillover benefits for neighbouring Cameroon, creating opportunities for cross-border gas projects and export infrastructure.
Chevron to Lead Gas Development Projects
Under the terms of the agreement, Chevron will spearhead development of newly identified gas reserves, employing advanced extraction and processing technologies. The project is expected to increase Equatorial Guinea’s gas output and attract additional foreign investment into the country’s energy sector.
The deal is also anticipated to support downstream industries, including liquefied natural gas (LNG) production, electricity generation, and petrochemical manufacturing, further diversifying the nation’s economy.
Energy analysts suggest that the Chevron-Equatorial Guinea partnership could transform regional energy dynamics, strengthening supply for domestic markets while enhancing export potential. Equatorial Guinea’s government has expressed optimism that the agreement will create jobs, foster skills development, and contribute to long-term economic growth.
Officials highlighted that collaboration with Chevron aligns with the country’s strategy to expand sustainable energy production and attract private-sector investments that underpin broader regional energy security initiatives.
