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.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
'My predictions for the next 25 years'Opinion What will the world look like when MoneyWeek celebrates its 50th birthday? Matthew Lynn shares his predictions
-
Central banks have evolved. Are they still fit for purpose?The rise to power and dominance of the central banks has been a key theme in MoneyWeek in its 25 years. Has their rule been benign?
