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Sunday, November 27, 2016
Total, Royal Dutch Shell, Endeavor Energy, CI-Energies, SOCAR, Golar LNG, and Petroci have formally established a consortium to construct a LNG import terminal in Cote d’Ivoire. Plans for the formation of the consortium to launch the LNG import facility were first revealed in early-October. The LNG imported at the terminal will be used as feedstock to generate electricity in the West African country.
The agreement establishes a new company called Cote d’Ivoire-GNL. Total will hold a 34% stake, SOCAR a 26% stake, Petroci a 16% stake, and Shell, Endeavor, and Golar will hold minority stakes.
“Many electricity-producing projects are awaiting a gas supply to really kick off,” Ibrahima Diaby, the director general of Petroci said at the signing ceremony.
The project aims to build and operate a FSRU with initial capacity of 100 Mmcf/d that would gradually be brought up to 400 Mmcf/d, Diaby said.
The cost of the project, expected to take about 18 months to complete, has also been reduced to $100 million from an earlier estimate of $200 million, he added.
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