Total are awarded the contract to build and operate a new LNG terminal in Ivory Coast.
The government in Ivory Coast has recently given the go ahead for the construction of a new liquid natural gas terminal to begin, the terminal will be built in the Abidjan area and is schedule to be fully operational by mid-2018.
Expectations are high
The primary purpose of the terminal is to significantly increase the country’s electricity output, in turn alleviating the significant energy crisis they are currently suffering from. The energy crisis is due in part to the 10% increase in demand being seen in the country year on year.
It is also hoped that the terminal, which will have a capacity of 3 million tons per year and include facilities to both store and liquefy gas, as well as pipelines to connect both existing and planned power plants, will also make Ivory Coast a major import hub for liquefied natural gas in the region, capable of meeting the ever-increasing demand both domestically and regionally.
Total will operate the new liquefied natural gas (LNG) terminal
The initial investment is forecast to be $100 million and the French multinational company Total, the 4th largest oil and gas company in the world operating in over 130 countries, will not only build and operate the new liquefied natural gas re-gasification terminal, but will also be the major shareholder with a stake of 34%.
Shell and Socar are amongst the other key shareholders and Ivory Coast will also retain a stake of 11% in the company.
Philippe Sauquet, the recently appointed President of the newly formed Gas, Renewables & Power branch said, “This project illustrates Total’s strategy to develop new gas markets by unlocking access to LNG for fast-growing economies. Working closely with our partners enabled us to put together an integrated proposal combining LNG supply and import infrastructure through a floating storage and re-gasification unit”. (source).
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