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New consortium secures domestic gas supply

The Economic Commission of the Council of Ministers approved this Wednesday the creation of a New Gas Consortium (NCC), for Angola LNG to have access to additional sources of gas throughout the duration of the project and to guarantee the supply of domestic gas and the development of other projects of public interest for the country.

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According to the minister of Mineral Resources, Oil and Gas, Diamantino Pedro Azevedo, after a period of study, plans drawn up for the NCG will start with production in the Quiluma and Maboqueiro areas.

The project is valued at around four billion dollars in terms of capital investment and operating costs, and will result in GDP value added of up to around ten billion dollars.

"In 2018, the Gas Law was approved, and from this approval, conditions were created for gas monetization and fostering investor interest in the research and production of gas not associated with oil," said the minister.

The NCG will also make it possible to catalyze and boost new gas projects both off shore and on shore.

This project, according to the minister, will constitute an agent of change in the materialization of the government's objectives regarding the diversification of the economy and the energy transition.

Likewise, the NCG will provide direct positive impacts on the lives of citizens with the creation of jobs, increased tax revenues, the emergence of other projects in the area of ​​fertilizer production and steel manufacturing, fostering small domestic gas businesses , production of electricity and, above all, the formation of national human capital, refers to a government statement that VerAngola had access to.

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