Saturday, May 18, 2024

Petroci Holding, Sahara Energy partner in huge LPG project in Ivory Coast


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[divider style=”solid” top=”20″ bottom=”20″][dropcap]P[/dropcap]lans are under to construct one of the largest LPG in Africa following a joint venture agreement in Ivory Coast.

The 12,000MT Liquefied Petroleum Gas storage facility will guarantee LPG supply security in Cote d’Ivoire, The Joint Venture partners DG, Petroci Holding  and Sahara Energy have said.

The proposed facility will increase the country’s LPG storage capacity by 60% and significantly enhance importation, storage, supply and distribution of LPG and other related activities in Cote d’Ivoire and its neighbouring countries such as Mali, Burkina Faso, and Guinea.

The investment will also bridge the current product supply and storage gap in the market and ensure more product availability and security by increasing stock holding from 15 days to 27 days.

Ivory Coast national LPG consumption has grown from 175KT in 2013 to 380KT in 2019, a significant increase that far exceeds the country’s demand for liquid products (excluding gasoline).

Olayemi Odutola, Country Manager, Sahara Energy said the project was in tandem with Sahara Group’s commitment to promoting clean energy in Africa through investments, new technology, and collaboration with regional and global institutions.

He stated that the partnership with Petroci further reiterates Sahara Group’s support and commitment to enhancing economic growth in Cote d’ Ivoire and contributes to the UN SDG7 goal which aims at ensuring access to affordable and clean 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. Sahara Energy continues to support the energy value chain in the nation as a foremost partner,” he said.

Odutola added that Sahara Group remains unwavering in its commitment to enhance capacity, productivity, reliability, safety, profitability, competitiveness, and sustainability in Africa’s energy sector.

“We will continue to explore other investment and partnership opportunities to replicate similar projects across the continent,”

Speaking at the execution of the agreement, Dr. Ibrahima Diaby, Director General Petroci, said that the LPG project in Ivory Coast will serve as a model for 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,’ he offered.

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