China Bridge commits to bringing innovative EPC and financing solutions to African projects ahead of AEW 2024

CAPE TOWN, September 15, 2024 — Maritime and energy firm China Bridge Energy is assessing project opportunities across Africa with a view to creating win-win collaborations and advancing the development of cost-effective oil and gas solutions.

With experience in ship brokerage; financing and refinancing; ship building and conversion; and oil and gas projects, the company aims to use its engineering, procurement, and construction [EPC] and financing solutions to address energy challenges and drive long-term economic growth.

A delegation from China Bridge Energy is joining the African Energy Week [AEW]: Invest in African Energy conference this November to gain insight into African projects and partnership opportunities. With the aim of driving projects forward and fostering stronger commercial ties between Africa and China, the company is inviting African firms and energy stakeholders to engage during this year’s conference.

China Bridge Energy has a history of offering support for large-scale project developments in Africa. The company collaborated with the China Petroleum Technology and Development Corporation [CPTDC] to offer an EPC and financing package for the Coral South FLNG project in Mozambique. China Bridge Energy selected the Hudong-Zhonghua Shipyard and Black & Veatch as EPC partners while mobilising a consortium comprising CPTDC, China Development Bank and Bank of China to offer a financing package to cover 90 percent of the project’s required funding.

In Cameroon, China Bridge Energy provided support for the Etinde Field Project, comprising 1.7 trillion cubic feet of proven gas reserves. The company partnered with CPTDC and China Petroleum Pipeline Engineering [CPP] for the EPC. Additionally, to help fund the early stages, China Bridge Energy provided a short-term loan of US$ 50 million, and also arranged for another US$ 50mln investment through the CMB Group to support the bidding process.

Additionally, in 2021, China Bridge Energy worked on a gas project in Morocco that involved three key components: building a gas processing plant, laying down pipelines and drilling wells. The company constructed a 120-km pipeline that connects to an existing pipeline to supply gas to local power plants. The project included drilling five wells before the gas was ready for use and seven more afterward. China Bridge Energy organized CPP to handle the plant construction and pipeline work

One of China Bridge Energy’s Nigerian clients is planning to build a FLNG facility with a storage capacity of 200,000 cubic metres. The total cost of this project is US$ 1.8 billion. China Bridge Energy reached out to the Bank of China and secured a financing solution for the project. For the construction, the company chose international contractors JGC and Technip to handle the entire process. In Ghana, the company provided an initial service plan for the Ghana Petroleum Hub – estimated to cost US$ 60bln. The project includes building refineries, storage tanks, petrochemical plants, jetties, a port and other infrastructure. To support the project, China Bridge Energy is working closely with its partners to offer both EPC and financing solutions.

Leveraging this experience, China Bridge Energy is assessing new opportunities in Africa’s energy sector. The company’s services include EPC solutions, with strong ties to Chinese shipyards such as China Merchants, Wison Shipward, China Ocean Shipping Company and more ensuring the effective procurement and construction of relevant modules for EPC projects.

China Bridge Energy’s own shipyard has extensive experience in developing LNG modules. In terms of other engineering solutions such as pipeline, tanks and more, the company leverages its partnerships with professional engineering companies such as China Harbor Engineering Company, China Petroleum Engineering & Construction Corporation and others to provide full service ECP solutions.

In the financing side, China Bridge Energy offers a range of support to get projects off the ground. The company utilizes financing from both domestic banks in China, including the Bank of China and Export-Import Bank of China, as well as international corporations to support development. Opportunities for equity investments in projects are also available, with flexibility at the core of capital-raising. The company not only offers to provide a high percentage of the project’s financing but up to 50 percent equity investment. The company works closely with a range of Chinese off-takers, covering crude oil, LNG, LPG, methanol and other oil and gas-related products.

“China Bridge Energy represents a company that is focused on collaboration and unlocking real value across Africa’s oil and gas industry. With a strong project portfolio and experience operating across the African market, the company is committed to engaging with African government, national oil companies and private sector firms to drive more investment into African energy projects. This is what Africa needs: a strong global partner that is focused on value, collaboration and finding innovative solutions to project development,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

https://thecooperator.news/kcca-advances-on-waste-to-energy-facility-in-mukono-district/

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