Sahara Energy, Petroci sign $43m deal to boost LPG supply in Cote d’ivoire
Sahara Energy Logistics Holding Limited (a Sahara Group company) and Société Nationale d’opérations Pétrolières de la Cote d’Ivoire (the national oil company of Cote d’Ivoire, Petroci Holding) have entered into a Joint Venture Agreement (JVA) to facilitate the construction of a 12,000 metric tons Liquefied Petroleum Gas (LPG) storage facility to guarantee LPG supply security in the nation.
The cost of the project is estimated at $43 million and will be executed in two phases, with commissioning scheduled for November 2021 and October 2022 respectively.
Incorporated as SAPET Energy S.A., the joint venture company will handle the construction, operation, and maintenance of the ultra-modern LPG storage terminal. Upon completion, the facility will become the largest of its kind in Sub-saharan Africa, and more importantly, support the government’s efforts to meet Cote d’Ivoire’s growing LPG aims at ensuring access to demand affordable and clean energy.
Speaking at the execution “We are excited about the of the agreement, Ibrahim, a project and the huge opporDiaby, director-general Petroci, said, “This joint venture unity it will confer on Cote d’ Ivoire as the leading LPG project is the first of its kind in the hub in the sub-region. Sahara Cote d’Ivoire and will serve as Energy continues to support a model for other projects in the energy value chain in the energy sector.
It is a historic nation as a foremost partner. The event that will pave the way for Sahara Group remains unwavering robust and seamless storage, in its commitment to end distribution, and supply of LPG, enhance capacity, productivity, this translates to more clean reliability, safety, profitability, energy, growth, and product competitiveness, and sustainability in Cote d’Ivoire.
We are an ability in Africa’s energy sector. delighted and look forward to We will continue to explore more collaboration with Sahara other investment and partner energy.” ship opportunities to replicate
Olayemi Odutola, country similar projects across the manager, Sahara Energy, said continent,” he said. the project was in tandem with Industry experts say the Sahara Group’s commitment development is cheery news to promoting clean energy in Africa through investments, for the nation with a population of 25 million people which new technology and collabo has recently emerged as one ration with regional and global of West Africa’s fastest-growing institutions. He stated that the ing LPG markets.
A national partnership with Petroci for LPG consumption has grown theirs reiterates Sahara Group’s from 175KT in 2013 to 380KT support and commitment to in 2019, a significant increase enhancing economic growth in that far exceeds the country’s Cote d’ Ivoire and contributes demand for liquid products to the UN SDG7 goal which (excluding gasoline).