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 concluded plans to construct a 12, 000 metric tonnes Liquefied Petroleum Gas (LPG), also known as cooking gas storage facility.
The $43 million deal, according to Sahara Group is a Joint Venture Agreement (JVA) to guarantee LPG supply security in the nation and will be executed in two phases, with inauguration 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, and more importantly, support the government’s efforts to meet Cote d’Ivoire’s growing LPG demand.
Speaking at the execution of the agreement, Dr. Ibrahima Diaby, Director General Petroci, said, “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.”
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.