GENEVA, Switzerland – West African energy development company Gasol plc has signed a strategic alliance agreement with Socar Trading S.A. in relation to Gasol’s proposed LNG import project in Benin.
Under the terms of the agreement, Socar will supply all LNG required for the project and assist Gasol with the provision of a floating gas storage and regasification vessel in the harbor at Cotonou, Benin. The project involves the regasification of LNG and the supply of that gas to power and industrial customers in Benin, Togo and Ghana.
The regasified LNG will be routed to the West African Gas Pipeline, a 678 km (421 mi) pipeline built to transport gas from Nigeria to Benin, Togo and Ghana. The pipeline has been in operation since March 2011 but has been operating “significantly less than full capacity,” said Socar Trading, the Geneva-based marketing and development arm of the Azerbaijan national oil company SOCAR.