Joint venture partners DG, Petroci Holding and Sahara Energy are constructing one of the largest liquefied petrol gas (LPG) in Africa following a joint venture agreement in Cote d’Ivoire.
The 12,000MT LPG storage facility will guarantee LPG supply security in the West African country.
The proposed storage 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.
Cote d’Ivoire 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).
Country Manager, Sahara Energy, Olayemi Odutola, said the project is in tandem with Sahara Group’s commitment to promoting clean energy in Africa through investments, new technology, and collaboration with regional and global institutions.
According to him, 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 United Nations Sustainable Development Goal 7, 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 said 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,” he said.
In his comments on the partnership, the director general Petroci, Dr. Ibrahima Diaby, 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.
By Chibisi Ohakah, Abuja