Petroci, Sahara Energy develop LPG facility in Côte d’Ivoire
13-11-2020 07:35:00 | by: Pie Kamau | hits: 7087 | Tags:

Côte d’Ivoire’s national oil company Petroci will construct a 12,000-metric ton liquefied petroleum gas (LPG) storage facility in Abidjan, in partnership with Sahara Energy and under advisory of international law firm Gide and Ivorian law firm SCPA 3K.

The total cost of the project is 23.9 billion CFA francs (approximately $43 million) and will increase the storage capacity of LPG in the country by 60%, thereby increasing consumption autonomy from 15 to 27 days and securing domestic LPG supply. The project will thus promote the uptake of LPG use, initiated by the Government with a view to curbing deforestation and safeguarding the environment.

During a Council of Ministers meeting held on September 9, the Government of Côte d’Ivoire approved the acquisition by Petroci of a stake in the share capital of Sahara Petroci Energy S.A., a joint venture that will develop, operate and maintain the storage capacity. The decision was formalized by the signing of a shareholders’ agreement between Petroci (35%) and Sahara Energy (65%).