COGAZ, the joint venture formed by Gasol, the West African energy development company, and BenGaz, a company based in Benin, is to supply gas to Communaute Electrique du Benin, (CEB) the electric authority for both Benin and Togo.
COGAZ intends to station a floating storage regasification unit in the harbour at Cotonou, together with the necessary mooring and infrastructure to enable the delivery and supply of liquefied natural gas to customers in Benin and Togo, including CEB. The necessary financing arrangements for the project will be put in place by Gasol in due course.
Gasol and CEB are now putting the finishing touches to the terms of a gas sale agreement which will provide for the delivery of competitively priced and secure gas supplies to CEB.
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Commenting on the agreement, Gasol's Chief Operating Officer, Alan Buxton, said: "This Memorandum of Understanding puts in place another link in the chain to realise the company's gas to power strategy in West Africa."
JH
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