Cairo, Egypt, 25 July 2025: – African Export-Import Bank’s (Afreximbank) Advisory and Capital Markets (ACMA) has been mandated as the financial advisor to raise capital for the US$4.5 billion EG-27 liquefied natural gas (LNG) project being developed by Sociedad Nacional de Gas de Guinea Ecuatorial (Sonagas), Equatorial Guinea’s national gas company.
Under the terms of the advisory mandate, ACMA will leverage its financial structuring expertise and broad investor network to mobilise capital for the development of the EG-27 project which represents the first phase in the development of Equatorial Guinea’s EBANO Field which holds 3.8 trillion cubic feet of proven gas reserves.
The project is expected to receive 360 million standard cubic feet per day of feed gas and to produce approximately 7,055 tons per day of LNG, or 2.4 million tonnes per annum, over a 20-year period.
Seen as a landmark initiative, the project has been strategically designed to monetise Equatorial Guinea’s natural gas resources and to promote industrialisation, with the goal of significantly enhancing the country’s role in global energy markets while contributing to regional energy security.
This advisory mandate affirms Afreximbank’s role in unlocking Africa’s energy value chains and enabling transformational infrastructure projects across the continent.
The EG-27 LNG development aligns with the Bank’s mission to support the future of Africa, while advancing sustainable infrastructure projects that have far-reaching economic and social impact. Afreximbank remains committed to supporting its member states in the development of sustainable energy solutions that create jobs, drive exports and accelerate intra-African trade under the African Continental Free Trade Area.
Established to lead the development and monetisation of Equatorial Guinea’s gas sector, Sonagas is using the EG-27 project to reinforce the country’s energy independence, increase gas-based revenues and catalyse industrial diversification by harnessing its abundant natural resources.
ENDS
About Afreximbank
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa2), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
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