The proposed construction of a liquefied petroleum gas (LPG) storage facility in Côte d’Ivoire, has received an advise from two firms.
According to the advise, the teams of international law firm Gide, working with Ivorian law firm SCPA 3K said they encourage the national oil operations company of Côte d’Ivoire, PETROCI-Holding to undertake the project as it will see an increase in the storage capacity of 12,000 metric tons in the port of Abidjan.
The new facility has a total cost which is estimated at CFA 23.9 billion (approx. EUR 36.6 million). This will increase Côte d’Ivoire’s LPG storage capacity by 60%, thereby increasing consumption autonomy from 15 to 27 days and securing its LPG supply.
Meanwhile, the project will thus promote the uptake of LPG use, initiated by the government with a view to curbing deforestation and safeguarding the environment.
Earlier this year in September, government of Côte d’Ivoire approved the acquisition by PETROCI Holding of a stake in the share capital of SAHARA PETROCI Energy S.A (SAPET Energy).
The joint venture is expected to develop, operate and maintain the storage capacity. This decision was formalised by the signature of a shareholders’ agreement between PETROCI Holding (35%) and SAHARA (65%).