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 Tonnes Liquefied Petroleum Gas (LPG) storage facility to guarantee LPG supply security in the nation.
The cost of the project is estimated at $43Million 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 is Sub-Saharan Africa”, Sahara’s spokesman, Bethel Obioma, claims in a release, “and more importantly, support the government’s efforts to meet Cote d’Ivoire’s growing LPG demand”.
The challenge with Obioma’s claim is that there are facilities with similar size in Nigeria currently and a raft of construction of larger sized LPG terminals in the country, is on course for commencement before the end of 2021.
However, Ibrahima Diaby, Director General, Petroci, said of the SAPET project: “this joint venture project is the first of its kind in Cote d’Ivoire and will serve as a model for other projects in the energy sector. It is a historic event that will pave the way for a robust and seamless storage, distribution, and supply of LPG. This translates to more clean energy, growth, and productivity in Cote d’Ivoire. We are delighted and look forward to more collaboration with Sahara Energy.”
“We are excited about the project and the huge opportunity it will confer on Cote d’ Ivoire as the leading LPG hub in the sub-region”, commented Olayemi Odutola, Country Manager, Sahara Energy.