Equatorial Guinea Energy Storage Settlement Policy

How will GEF-funded climate mitigation work in Equatorial Guinea?

This first ever GEF-funded climate mitigation project tackles the key sector of Equatorial Guinea’s economy. The country’s current focus is on increasing hydrocarbons and large-scale power for exportation, but this intervention is expected to prompt a paradigm shift towards smaller-scale investments to boost production for local consumption.

Will Equatorial Guinea reinvest oil revenue into agriculture?

Although pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings, the neglect of the rural economy in the years of oil bonanza has diminished potential for agriculture-led growth. However, the government has stated its intention to reinvest some oil revenue into agriculture.

What is the business environment like in Equatorial Guinea?

The business environment in Equatorial Guinea remains challenging (limited finance, high cost of imported goods, cumbersome institutional procedures; small size of domestic market. Policy-regulatory framework no sufficient for private investors and IPPs

What is Equatorial Guinea's National Adaptation Plan of Action (NAPA)?

The MPM recently elaborated Equatorial Guinea’s National Adaptation Plan of Action (NAPA), also with UNDP-GEF support. The energy sector figures an adaptation priority, considering water issues of large scale hydropower developments in the mainland region.

Who will support the project team in Equatorial Guinea?

Part 6. The project team and the UNDP Office in Equatorial Guinea will be supported by the UNDP-GEF Technical Advisor will be responsible for project monitoring and evaluation conducted in accordance with the established UNDP and GEF procedures.

How much oil does Equatorial Guinea produce per day?

As of 2013, Equatorial Guinea's proven oil reserves were put at 1.1 billion barrels (204×106 m3); oil production was estimated at 420,000 barrels per day (67,000 m3/d) in 2005 and 316,000 barrels/d in 2012, of which crude oil accounted for over 90%3.