France LNG Imports from Cameroon Reach Record High

Cameroon #LNG exports exploded in 2022 as the EU imposed an embargo on Russian gas as a result of the Russia-Ukraine Conflict. The upward trend continues as France imported for FCFA 304 billion of LNG in 2023, representing approximately a 50% increase in value from 2022.

Based on 2023 figures, LNG made up nearly half of the total value of exports from Cameroon to France. Currently, France (12.3%) is the 2nd largest export market for Cameroon, behind The Netherlands (23.2%), but ahead of India (9.6%) or China (7.8%).

It is worth noting that the top company exploiting hydrocarbon in Cameroon is French firm Perenco which started operations in March 2018. The Ukraine war has thus proved to be highly beneficial to the company. Initially, Perenco contracted a JV with Societe nationale camerounaise des hydrocarbures (SNH) and Golar LNG to set up a floating liquefaction platform off Kribi.

The floating LNG (#FLNG) plant is named Hilli Episeyo and is the second of its kind in the world, after the first one was commissioned in Malaysia in 2017. Hilli Episeyo has an annual capacity of up to 1.6 million tonnes.

In addition to LNG, Cameroon has exported crude oil and lubricants to France. Together, these petroleum products contribute more than three-quarter of all exports to France.