TheCitizen - It's all about you
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
TheCitizen - It's all about you
No Result
View All Result

Sahara Energy, Petroci sign $43m deal to boost LPG supply in Cote D’Ivoire

The Editor by The Editor
September 14 2020
in Business
A A
0
Sahara Energy, Petroci sign $43m deal to boost LPG supply in Cote D’Ivoire
22
SHARES
734
VIEWS
Share on FacebookShare on Twitter

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 entered into a Joint Venture Agreement (JVA) to facilitate the construction of a 12,000 Metric Tonnes Liquefied Petroleum Gas (LPG) storage facility to guarantee LPG supply security in the nation.

The cost of the project is estimated at $43million and will be executed in two phases, with commissioning 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.

“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. 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.

Industry experts say the development is cheery news for the nation with a population of 25 million people which has recently emerged as one of West Africa’s fastest growing LPG markets. 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).

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 neighboring 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 stockholding from 15 days to 27 days.

Sahara Group is already a leading LPG supplier on the continent via its joint ownership of MT Africa Gas and MT Sahara Gas, both LPG vessels with a combined capacity of 76,000 cubic metres (cbm).

The vessels have delivered about 600,000 metric tonnes of LPG, making households, communities and nations cleaner and safer as well as boosting economic growth and development across markets.

Share9Tweet6
Previous Post

Stanbic IBTC Bank urges customers to reactivate dormant, inactive accounts

Next Post

HP unveils Z Portfolio, world’s most secure, manageable workstations

Related Posts

Amazon cloud computing outage disrupts Snapchat, Airbnb, other online services worldwide
Business

Amazon cloud computing outage disrupts Snapchat, Airbnb, other online services worldwide

October 20 2025
Striking aviation workers reject govt plea, threaten total shutdown
Business

Aviation sector under threat as union, NiMet threaten strike

October 20 2025
FRSC introduces contactless driver’s licence system
Business

FRSC introduces contactless driver’s licence system

October 20 2025
Daily Times Nigeria unveils plans to mark 100 years
Business

Daily Times Nigeria unveils plans to mark 100 years

October 20 2025
Asharami Synergy bolsters fuel solutions in Lekki with new retail station
Business

Asharami Synergy bolsters fuel solutions in Lekki with new retail station

October 20 2025
Nigeria: IMF insists on fuel subsidy removal
Business

Nigeria missing as IMF lists Africa’s fastest-growing economies

October 18 2025
Next Post
HP, Nigerian authorities collaborate to disrupt counterfeit retail operations

HP unveils Z Portfolio, world’s most secure, manageable workstations

Residents kick as CBN moves to convert estate clinic to COVID-19 treatment centre 

Residents kick as CBN moves to convert estate clinic to COVID-19 treatment centre 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

FROM THE GRASSROOTS

ALGON orders Edo council officials to wear Tinubu’s signature caps

ALGON orders Edo council officials to wear Tinubu’s signature caps

by The Editor
October 18 2025
0

...

Olubadan unveils legal committee to tackle land grabbing

Olubadan unveils legal committee to tackle land grabbing

by The Editor
October 15 2025
0

...

Birnin Gwari needs urgent federal intervention – Emir tells Tinubu

Birnin Gwari needs urgent federal intervention – Emir tells Tinubu

by The Editor
October 13 2025
0

...

Rivers court adjourns hearing on LG poll legitimacy

Rivers court adjourns hearing on LG poll legitimacy

by The Editor
September 16 2025
0

...

APPOINTMENTS

Tinubu seeks Omidiran, 28 others’ confirmation as FCC members

Tinubu seeks Omidiran, 28 others’ confirmation as FCC members

by The Editor
October 15 2025
0

...

Okpebholo swears in 19 commissioners, warns against corruption

Okpebholo swears in 19 commissioners, warns against corruption

by The Editor
October 15 2025
0

...

Fubara drops Danagogo, appoints Anabraba as Rivers SSG

Fubara drops Danagogo, appoints Anabraba as Rivers SSG

by The Editor
October 13 2025
0

...

Savannah Energy signs agreement with Chadian govt for new renewable energy projects

Savannah Energy announces board changes, appoints two Nigerians as Independent Non-Executive Directors

by The Editor
October 9 2025
0

...

ODDITIES

Kano Court orders Hisbah to marry off TikTokers over ‘indecent’ videos

Kano Court orders Hisbah to marry off TikTokers over ‘indecent’ videos

by The Editor
October 20 2025
0

Teenager plucks sister’s eyes for ritual in Bauchi

Teenager plucks sister’s eyes for ritual in Bauchi

by The Editor
October 20 2025
0

Lagos to probe school over alleged sodomy

Father impregnates 15-year-old daughter in Ondo

by The Editor
October 17 2025
0

GLOBAL NEWS

Madagascar coup leader appoints businessman as new prime minister

Madagascar coup leader appoints businessman as new prime minister

by The Editor
October 20 2025
0

...

Madagascar’s military leader swears in as president

Madagascar’s military leader swears in as president

by The Editor
October 18 2025
0

...

Trump, Putin to meet in Budapest over Ukraine war

Trump, Putin to meet in Budapest over Ukraine war

by The Editor
October 17 2025
0

...

2026 Hajj: Saudi govt approves 66,910 slots for Nigeria

2026 Hajj: Saudi govt approves 66,910 slots for Nigeria

by The Editor
October 17 2025
0

...

Trump persuades India to stop buying Russian oil

Trump persuades India to stop buying Russian oil

by The Editor
October 16 2025
0

...

State of the States

Aiyedatiwa clears Ondo two-year gratuity backlog

Aiyedatiwa clears Ondo two-year gratuity backlog

by The Editor
October 20 2025
0

...

21.8% North-East residents HIV positive – NBS …as 16,000 die from HIV complications in Borno

Adamawa records 8,850 new HIV infections in four years

by The Editor
October 17 2025
0

...

Zamfara APC condemns state govt’s mass sacking of civil servants

Zamfara APC condemns state govt’s mass sacking of civil servants

by The Editor
October 14 2025
0

...

Gov. Otti set to build modern fire station in Umuahia

Gov. Otti set to build modern fire station in Umuahia

by The Editor
October 7 2025
0

...

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Amazon cloud computing outage disrupts Snapchat, Airbnb, other online services worldwide

Amazon cloud computing outage disrupts Snapchat, Airbnb, other online services worldwide

October 20 2025
Madagascar coup leader appoints businessman as new prime minister

Madagascar coup leader appoints businessman as new prime minister

October 20 2025
Heartbroken woman, 22, commits suicide over cheating boyfriend

Heartbroken woman, 22, commits suicide over cheating boyfriend

October 20 2025
Soludo targets guber win in all Anambra polling units

Soludo targets guber win in all Anambra polling units

October 20 2025

EDITORIAL REVIEW

Invest in vocational, technical education – Punch

Invest in vocational, technical education – Punch

by The Editor
October 20 2025
0

End female genital mutilation – Punch

End female genital mutilation – Punch

by The Editor
October 17 2025
0

Nnaji: Nigeria’s dodgy vetting processes – Punch

Nnaji: Nigeria’s dodgy vetting processes – Punch

by The Editor
October 16 2025
0

Vacations and governance: Why President Tinubu’s trip matters -Guardian

Tinubu, honour promise to ASUU – Punch

by The Editor
October 15 2025
0

The killings in the South East – Thisday

The killings in the South East – Thisday

by The Editor
October 14 2025
0

Opinion

Tinubu finds his own demons

Next time, Umahi should go to NTA

by The Editor
October 16 2025
0

...

Objections over presidential pardon for grave offenders

Objections over presidential pardon for grave offenders

by The Editor
October 13 2025
0

...

1975 public service purge: What have we learnt?

1975 public service purge: What have we learnt?

by The Editor
September 30 2025
0

...

Tinubu finds his own demons

Nigeria’s state of weakness

by The Editor
September 18 2025
0

...

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2024 TheCitizen Ng. All Rights Reserved.

No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2024 TheCitizen Ng. All Rights Reserved.