Benin LNG Import Project

"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

Project Liquefied Natural Gas (LNG) Import Project
Gas Off-Takers Gasol has negotiated two off-take agreements with the state utilities of Benin, Togo and Ghana :
Benin LNG
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.
Project Benefits 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 costs. 
Natural gas is a cleaner, less expensive fuel compared to liquid fuels and offers significant economic and environmental benefits for all three countries.
Current Status 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 possible.
FSU & Regasification Barge /FSRU 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.
WAGP 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.