From the Alba field, approximately 130 million cubic feet a day (gross) of the dry gas remaining after the condensate and liquefied petroleum gas (LPG) are removed is supplied to the Atlantic Methanol Production Company (AMPCO) plant on Bioko Island, where it is used to manufacture 1 million metric tons (MMT) of methanol (gross) per year.
Jim O’ Casek, Vice President of AMPCO, says the methanol sector is likely to experience unprecedented growth during the next decade, as global demand is set to grow to 137 MMT in 2022, up from 61 MMT in 2012, according to a 2013 report by analytics firm IHS.
This is good news for AMPCO, the Equatorial Guinea-based company that operates one of the largest and lowest-cost methanol plants in the world, currently producing what represents approximately 2% of the global market.
“The future of methanol as a product is very bright. Inexpensive and abundant gas supplies in North America have spawned a number of new or restarted methanol production facilities, but I expect AMPCO to continue to be a safe, reliable and reputable methanol supplier and one of the world’s lowest cost sources. Besides the traditional derivative areas, methanol is increasingly being consumed to produce olefins, gasoline blending products, DME, and directly as a fuel,” says the AMPCO Vice President.
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