The African Export-Import Bank’s (Afreximbank) Advisory and Capital Markets (ACMA) division has been appointed as financial advisor to raise capital for the $4.5 billion EG-27 liquefied natural gas (LNG) project, led by Equatorial Guinea’s state-owned gas company, Sociedad Nacional de Gas de Guinea Ecuatorial (Sonagas).
Under the advisory mandate, ACMA will structure and mobilise financing for the development, drawing on its capital markets expertise and network of institutional investors. The EG-27 project marks the first phase of development in Equatorial Guinea’s EBANO Field, which holds an estimated 3.8 trillion cubic feet of proven natural gas reserves.
Designed as a long-term energy infrastructure asset, the EG-27 facility will process 360 million standard cubic feet of gas per day and is expected to produce roughly 7,055 tons of LNG daily, equivalent to 2.4 million tonnes per annum, over a 20-year operational horizon.
The project has been positioned as a cornerstone in Equatorial Guinea’s strategy to monetise its natural gas resources and strengthen its position in global energy markets, while supporting regional energy security and domestic industrialisation.
Afreximbank said the mandate underscores its strategic focus on enabling transformative infrastructure across Africa and deepening value addition in the continent’s energy sector.
The EG-27 initiative aligns with the Bank’s wider objective of supporting sustainable energy investments with high social and economic impact. It also complements broader continental goals under the African Continental Free Trade Area (AfCFTA), with an emphasis on job creation, export growth, and energy access.
Sonagas, which leads the national gas strategy, is using the EG-27 project to boost gas revenues, diversify the economy, and accelerate industrial development by leveraging Equatorial Guinea’s natural resource base.
