From Stalled Talks to Breakthroughs: Yoyo-Yolanda Signals New Chapter for the Gulf of Guinea

Cameroon and Equatorial Guinea have signed a unitization agreement to jointly develop the cross-border Yoyo-Yolanda gas fields, marking a decisive step toward accelerating long-delayed gas monetization in the Gulf of Guinea. Forming part of the broader Gas Mega Hub (GMH) – an initiative led by Equatorial Guinea to monetize stranded gas reserves – the agreement strengthens cross-border cooperation at a time when the GMH is showing signs of resurgence.  

As the voice of the African energy sector, the African Energy Chamber (AEC) strongly supports the milestone, recognizing it as a clear signal that both countries are moving swiftly from negotiation to execution. As the project advances, the Chamber has called for sustained urgency, streamlined approvals and coordinated infrastructure development to maintain investor confidence and unlock the full economic potential of the Yoyo-Yolanda project.

Clear Signal to Investors: Execution, Urgency and Infrastructure First

Containing 2.5 trillion cubic feet (tcf) of natural gas reserves, the Yoyo-Yolanda project is an integral part of the GMH, monetizing gas resources across two strategic fields. Operators Noble Energy Cameroon and Noble Energy Equatorial Guinea – both Chevron companies – have reaffirmed their full commitment to the project. Jim Swartz, Chairman and Managing Director of Chevron Nigeria and the Mid-Africa Region, highlighted that the project is central to Chevron’s strategy of supporting long-term LNG supply and leveraging existing infrastructure at Alen and Punta Europa.

For the AEC, the agreement sends a strong signal to global investors that Cameroon and Equatorial Guinea are aligned, bankable and serious about accelerating gas development. The Chamber has called on both governments to fast-track final investment decisions, engineering and infrastructure rollout, while implementing targeted policies and incentives to maintain momentum.

The AEC has also urged Cameroon and Equatorial Guinea to draw on proven best practices from successful cross-border gas developments, including the Greater Tortue Ahmeyim project between Senegal and Mauritania, as well as earlier Gas Mega Hub agreements involving Nigeria and Cameroon, to reduce execution risk and shorten time-to-market.

“The Chamber celebrates the agreement to unify Yoyo-Yolanda. There is a tight window to monetize Africa’s gas resources before global market dynamics shift – delaying is not an option. Governments must eliminate red tape, accelerate execution, and leverage existing infrastructure to maintain investor confidence,” said NJ Ayuk, Executive Chairman of the AEC.

Gas Mega Hub Strategy Gains Momentum

For Equatorial Guinea, Yoyo-Yolanda is a cornerstone of the country’s GMH strategy, aimed at positioning the nation as a regional gas processing and monetization hub. The project reinforces Equatorial Guinea’s drive to commercialize its 1.5 tcf of domestic gas reserves to support energy security, industrialization and export growth.

Momentum behind the GMH has continued into 2026. Most recently, national oil company GEPetrol increased its participating interest in the Aseng gas project from 5% to 32.55%, following the signing of a Heads of Agreement with Chevron to finance the stake increase. The transaction strengthens national participation in upstream gas assets while accelerating feedstock availability for the Punta Europa LNG complex, reinforcing the GMH’s infrastructure-led approach to fast-tracking gas monetization.

This followed a letter of intent signed in 2023 by Noble Energy to supply gas from the onshore Aseng field. More recently, production sharing contracts signed with Panoro Energy and Africa Oil Corporation further underscore Equatorial Guinea’s commitment to scaling gas production and ensuring long-term throughput for the GMH.

For Cameroon, the Yoyo-Yolanda project supports the country’s 2035 universal energy access goals, including expanding access to LPG, biogas and electricity, while boosting export revenues. Beyond energy revenues, Yoyo-Yolanda is expected to catalyze broader socio-economic benefits. Accelerated development will expand local content participation, strengthen workforce development and act as a door opener for new exploration campaigns across the Gulf of Guinea, reinforcing the region’s position as an emerging gas investment frontier.

Turning Stalled Projects into Executable Developments

With Yoyo-Yolanda now unified, the focus shifts to execution. There is a narrow window to monetize gas resources before global market dynamics evolve, making speed and coordination essential. Fast-tracked approvals, streamlined cross-border processes and decisive project management will be critical to maintaining momentum and investor confidence.

Leveraging existing regional infrastructure will be equally important. By utilizing established processing and export facilities such as Punta Europa, Equatorial Guinea and Cameroon can lower operating costs, shorten development timelines and accelerate gas to market. For investors, rapid progress on Yoyo-Yolanda will send a clear signal that both countries are aligned, commercially focused and open for business.

Distributed by APO Group on behalf of African Energy Chamber.