Gaz du Cameroun S. A. (“GDC”), is a 100% owned subsidiary through its parent company, Victoria Oil and Gas plc (a UK listed company), supplying gas products to industrial customers within the energy-hungry city of Douala
These customers utilize GDC gas for thermal processes, such as boiler heating for steam generation, direct process heating and power supply. Less than five years after spudding the first wells, GDC has successfully built an extensive pipeline network, that feeds gas to over 25 industrial customers in Douala. Furthermore, the energy-utility company has already invested over $245 million into the Logbaba project including two wells, production facilities and a pipeline network.
Our success is built on core values, which serve as a compass for our actions and describe how we do business:
Our mission is to unlock Cameroon’s economic potential through cost effective, clean, and efficient gas products.
GDC has successfully operated within Cameroon since 2009 and has unlocked the country’s energy resources to supply the local economy in Cameroon with gas and electricity. In October 2013, His Excellency President Mr. Paul Biya inaugurated the GDC gas plant in Douala, Cameroon. The Company now primarily supplies major industrial customers including GUINNESS, DANGOTE, SABC, CHOCOCAM, CICAM and CAMLAIT etc. In 2015, GDC signed an agreement with national power provider ENEO, to replace Heavy Fuel Oil (“HFO”) usage at power stations in the area, with a cleaner alternative: natural gas. The demand for gas in Cameroon for thermal and power generation is estimated to be in excess of 150mmscf/d. GDC has onshore gas reservoirs in Cameroon, to adequately meet that demand and provide the industrial region of Douala with cost-effective, clean and reliable gas products. The company’s main products include thermal gas, condensate and electricity generation. GDC is also in discussion with partners to develop a compressed natural gas business (“CNG”) to expand our energy products’ reach.
GDC manages all stages of the gas supply chain from wellhead extraction to customer connection. The company is largely insulated from oil price fluctuations because it competes with fuel sources such as heavy fuel oil on many different criteria other than supply price. GDC has in place long-term gas supply contracts with customers using gas for a variety of different applications, with prices ranging from $9/mmbtu to $16/mmbtu. GDC’s strategy is to focus on the safe delivery of gas to the optimum, long-term market. In early 2016 VOG added to its 20km exploitation license at Logbaba, with the assignment of 75% of the neighbouring 1,235 square kilometer exploration block, Matanda, increasing its footprint in Douala, Cameroon.
GDC has secured its position as a dominant gas supplier to industry in Douala. The company is focused on a “pure gas” sales model, delivering a consistent cleaner fuel source to a diverse range of markets and applications. Going forward, GDC intends to maintain its position as a world-class leader in the gas industry, by leveraging its experience, as well as its gas processing and pipeline assets.