(Ecofin Agency) - According to a communiqué issued by Etienne Dieudonné Ngoubou, minister for Oil and Gas, and released yesterday, the Republic of Gabon and the Japanese group Marubeni signed on 6^th July 2015 in Libreville a memorandum of understanding to carry out a feasibility study in Gabon for a methanol plant project.

Though the details in relation to the construction of this plant have not yet been revealed, “this project is set within the framework of the reduction of greenhouse gases and the promotion of oil resources”, indicated the communiqué. The methanol, a chemical manufactured from natural gas will be used domestic products such as synthetic perfumes, varnish and many other by-products.

Methanol is also used to make pharmaceutical products, formaldehyde and particular plastics. Marubeni has already undertaken a similar project in Congo Brazzaville and in Ghana.