Leading energy and infrastructure conglomerate Sahara Group has ordered two new liquefied petroleum gas (LPG) vessels worth 46 billion CFAF from the Hyundai MIPO shipyard in Ulsan, South Korea. Sud, to increase the availability and supply of clean energy in Côte d ‘Ivoire.
The name MT SAPET (combined name of Sahara and Petroci) with the colors of the Ivorian flag and MT BARUMK (with the colors of the Nigerian flag), the additions, which will be concentrated in the West African region, now complete two members of their fleet (MT Sahara Gas and MT Africa Gas, which regularly call at the port of Abidjan. The two MT Africa Gas and MT Sahara Gas were also built by Hyundai MIPO Dockyard in South Korea quite recently.
Through its partnership with the Nigerian National Petroleum Company Limited (NNPC) and WAGL Energy Limited, the Sahara Group has invested over USD 300 million (CFA 180 billion) in the development of gas infrastructure with plans to acquire 10 vessels in 10 years, with a view to to lead the energy transition in Africa.
“With an investment of more than 279 billion CFA francs since 2014 to facilitate the supply of LPG in Côte d’Ivoire, the Sahara Group continues to provide more than 26 million Ivorians with access to safe, reliable and dependable fuels. of the two new vessels will further improve timely and efficient supply, ”said Wale Ajibade, CEO of Sahara Group, who is also Director of SIR Refinery and Sapet Ltd (a joint venture between Group Sahara and Petroci).
Ajibade, praising President Ouattara and the Ivorian government for their robust gas optimization initiatives, said the MT SAPET vessel will proudly fly under the Ivorian flag as a testament to the Sahara Group’s commitment to SAPET Energy SA, the joint venture between Sahara and Petroci (the national oil and gas company), which was established to strengthen the supply, supply, storage and distribution of LPG.
Ajibade noted that from the start of the JV, the Sahara Group was committed to promoting the sustainability of LPG in the CIV through investments in infrastructure, technology and human capital. “The name MT SAPET is derived from our joint venture, SAPET Energy. It will be the first LPG vessel to be christened of Ivorian origin and flying the country’s flag. Let’s build a future where cleaner fuels will help them to be off. the good people of Côte d’Ivoire, promoting environmental sustainability and ultimately supporting the economic development of the sub-region “, added Mr. Ajibade.
Sir. Vamissa Bamba, CEO of Petroci, said the beneficial relationship the public entity has with the Sahara Group and its subsidiaries across the energy value chain has helped the nation meet its energy needs, adding that LPG cooperation would improve economic development. He praised the Sahara group for remaining committed to the development of the country, adding: “Together we will transform access to LPG in Côte d’Ivoire and the sub-region.
In addition, SAPET Energy chairman Georges Kam Sie said the JV would bring hope to the Ivorians in LPG with associated benefits to the economy.
According to Olayemi Odutola, CEO of SAPET Energy, JV is currently accelerating construction work with several technical and financial partners in the country during the project. “SAPET Energy is on track to deliver the first 12,000 MT of LPG storage, which is expected to become the largest in sub-Saharan Africa and increase the country’s storage capacity by about 60%. This also paves the way for an increase in LPG supply. from neighboring Burkina Faso, Mali and Guinea to ensure a smooth transition to safe and reliable LPG in the sub-region, ”he said.
Edem Degbor, Country Manager, Sahara Group said hundreds of jobs will be created during the construction phase, as well as subsequent maintenance, of the warehouse facility for Ivorian nationals, including. local agents, product inspectors, contractors and construction workers, etc.
Degbor said the market will continue to receive LPG from MT Africa Gas and MT Sahara Gas, which since 2018 have delivered around 900,000 tonnes of LPG to the Ivorian market.
LPG is the fastest growing oil product in sub-Saharan Africa over the last decade, forecasts indicate that LPG will experience a compound annual growth rate (CAGR) of 7% over the next 15 years.
Increased use of LPG will help reduce net greenhouse gas (GHG) emissions and reduce the pressure on forest reserves, thereby increasing environmental sustainability.