(Ecofin Agency) - In Equatorial Guinea, the Ministry of Mines, Industry and Energy, has said that the country’s gas company Sociedad Nacional de la República de Guinea Ecuatorial (SONAGAS), is to commence the marketing of its share of Liquefied Petroleum Gas (LPG) which was produced at the Alba Plant situated on Bioko Island to international buyers.

Indeed, negotiations have now been opened by SONAGAS with off-takers and the marketing of the LPG production share will commence from January 1 of 2016, according to Energy-pedia.

SONAGAS which is owned by the government was established in 2005. The company together with Marathon Oil and Noble Energy holds 20%, 40% and 40% shares respectively, in the LPG production at the Alba plant, which is located at the Punta Europa gas complex. These partners, SONAGAS and the Government of the country collectively agreed that SONAGAS should market the state’s 20% share of LPG production.

“SONAGAS marketing its share of LPG fulfills one of the major objectives envisaged by the State in creating the company a decade ago – that of a national gas company with capacity across the spectrum of gas activities. SONAGAS is evolving to take on more of the gas business, not only as a shareholder at Punta Europa but, throughout the entire value chain”, Gabriel Mbaga Obiang Lima, the Minister of Mines, Industry and Energy said.

The Alba Plant which produces 8,000 b/d of butane, 14,000 b/d of propane and 6,000 b/d of condensed gas, started operation in 1991 and was later modernized in 2003 to 2005.