"LNG to Power" Strategy is on Track
Gasol is very excited about its project to import LNG into Benin
through the Port of Cotonou.
As proposed, the LNG will be regasified in a newly constructed
LNG basin near the entrance to the Port and injected into the WAGP
via a newly constructed sub-sea lateral pipe.
The WAGP will transport the natural gas to the project's
off-takers in Benin, Togo and Ghana.
Key facts on the Project
||Liquefied Natural Gas
(LNG) Import Project
||Gasol has negotiated two off-take
agreements with the state utilities of Benin, Togo and Ghana
The gas produced by the project is expected to be sold to power
plants and industrial users in Benin, Togo and Ghana under
long-term gas sales agreements.
||This project will establish the first
adequate and reliable supply of natural gas for Benin and Togo and
will provide Ghana with a significant increase in the supply of gas
available for its consumption.
The gas will displace the use of liquid fuels (diesel, HFO,
Light Crude Oil) in power generation and industrial applications in
these counties substantially reducing generating
Natural gas is a cleaner, less expensive fuel compared to
liquid fuels and offers significant economic and environmental
benefits for all three countries.
||Negotiations are proceeding satisfactorily
with the Government of Benin in respect of the concession for the
LNG basin, with the West African Gas Pipeline Co. ("WAPCO"), the
owners of WAGP, in respect of the interconnection with the WAGP and
with potential lenders to secure the financing commitments
necessary to implement the project. The Company intends to focus on
bringing this project to financial close as quickly as
|FSU & Regasification
||Gasol plans to moor a FSU/FSRU in the new
basin. The FSU/FSRU will be resupplied on a regular basis by LNG
carriers via ship-to-ship transfers in the protected basin.
||Access to the WAGP is an important part of
the project plan.
The regasified LNG will be injected into the WAGP via a new subsea
pipeline that will run from the LNG basin, to the WAGP, which is
approximately 15 kilometres offshore.
Gasol has applied to WAPCO under its new open access policy to
become a shipper on the WAGP and is currently in negotiations with
WAPCO to finalise the commercial and technical issues regarding the
project's connection to the pipeline and the capacity in the WAGP
that will be reserved for the project's use.