Ivory Coast: Total Becomes the Operator of the LNG Terminal Project
November 25 2016 - 1:37AM
Business Wire
Regulatory News:
The CI-GNL (Ivory Coast LNG) consortium led by Total (Paris:FP)
(LSE:TTA) (NYSE:TOT) has been awarded the rights to build and
operate a liquefied natural gas (LNG) re-gasification terminal in
Ivory Coast with a capacity of 3 million tons per year.
The decision announced by the Government of the Ivory Coast on
October 4th was followed by the signature of the shareholders’
agreement in Abidjan between Total, which will operate the project
with a 34% interest, national companies PetroCI (11%) and CI
Energies (5%) as well as SOCAR (26%), Shell (13%), Golar (6%) and
Endeavor Energy (5%).
Total will use the terminal to supply LNG volumes from its
global portfolio in proportion to its participating interest in the
project. The re-gasification terminal project is expected to become
operational by mid 2018.
“This project illustrates Total's strategy to develop new gas
markets by unlocking access to LNG for fast-growing economies.
Working closely with our partners enabled us to put together an
integrated proposal combining LNG supply and import infrastructure
through a floating storage and re-gasification unit,” said Philippe
Sauquet, President Gas, Renewables and Power of Total. “We are very
pleased to have been selected by the Ivorian authorities to manage
this project, which will meet growing domestic and regional needs
for gas and power.”
The project involves the construction of a terminal with a
floating storage and re-gasification unit (FSRU) in Vridi, Abidjan
area, and a pipeline connecting the FSRU to existing and planned
power plants in Abidjan, as well as to regional markets connected
to the Ivorian network. This will enable Ivory Coast to become the
first regional LNG import Hub in West Africa, and to meet both
regional and domestic demand.
* * * * *
About Total
Total is a global integrated energy producer and provider, a
leading international oil and gas company, and the world’s
second-ranked solar energy operator with SunPower. Our
96,000 employees are committed to better energy that is safer,
cleaner, more efficient, more innovative and accessible to as many
people as possible. As a responsible corporate citizen, we focus on
ensuring that our operations in more than 130 countries worldwide
consistently deliver economic, social and environmental benefits.
total.com
Cautionary note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms “Total” and “Total Group”
are sometimes used for convenience where general references are
made to TOTAL S.A. and/or its subsidiaries. Likewise, the words
“we”, “us” and “our” may also be used to refer to subsidiaries in
general or to those who work for them.This document may contain
forward-looking information and statements that are based on a
number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be
inaccurate in the future and are subject to a number of risk
factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any
obligation to update publicly any forward-looking information or
statement, objectives or trends contained in this document whether
as a result of new information, future events or otherwise.
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TotalMike SANGSTERNicolas FUMEXKim HOUSEGORomain
RICHEMONTTel. : + 44 (0)207 719 7962Fax : + 44 (0)207 719
7959orRobert HAMMOND (U.S.)Tel. : +1 713-483-5070Fax : +1
713-483-5629
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