SONAGAS RESPONDS TO THE SENATE REGARDING ITS MANAGEMENT AND PROJECTIONS.

Source: Guinea Ecuatorial Press

During the appearance of directors of public companies and autonomous bodies before the Senate, the General Director of SONAGAS, Segismundo Nguema Nsue, presented this Wednesday a detailed report on the management of the company and responded to the concerns raised by legislators in relation to its administration.

During the session, the Senate requested clarifications on several key issues, including the lack of implementation of the gas sale abroad scheduled for 2023, the 134% increase in personnel expenses during the same year and the agreements between SONAGAS-GEOGAM and SONAGAS-Gas Guinea. In addition, the senators expressed their concern about the difference in gas cylinder prices between the Insular Region and the Continental Region.

In his speech, Nguema Nsue explained that SONAGAS has taken important steps in the commercialization of gas abroad, recently achieving its first exports after obtaining the transfer of powers over gas from the Alba field. He also reported that the company is in negotiations for the sale of liquefied petroleum gas from the Alen field, which will strengthen SONAGAS' position in the international market.

Regarding the difference in gas cylinder prices, the General Director justified that there is no production in the Continental Region, which means that gas has to be transported from Malabo, generating additional costs that impact the final price of the product.

Following the intervention of Nguema Nsue, the Senate issued a series of recommendations to improve the management of SONAGAS, including the expansion of the network of gas sales branches in the Continental Region, the nationalization of jobs, the review of salaries and expenses, and the prioritization of national personnel in the area of human resources.

The First Vice President of the Senate, Ángel Serafín Seriche Dougan Malabo, supported these recommendations and underlined the government's commitment to optimizing the management of public companies. He also highlighted the importance of boards of directors holding regular meetings to address challenges and ensure compliance with the objectives for which these entities were created.

SONAGAS reaffirms its commitment to transparency, efficiency and the development of the energy sector in Equatorial Guinea, guaranteeing that the measures proposed by the Senate will be evaluated and implemented to the extent possible to optimize its operation and service to citizens.