The marketing and development arm of the State Oil Company of Azerbaijan Republic (SOCAR) has entered into an agreement with Gasol to supply LNG and provide floating gas storage and regasification vessel to Cotonou harbour in Benin
Gasol revealed that the alliance would represent a major step towards bringing gas to Benin, Togo and Ghana by creating access to LNG, storage and regasification vessel.
SOCAR Trading SA (STSA) said in a statement that the agreement would allow it to leverage its LNG capability to support Gasol and build its presence in West Africa.
Gasol chief operating officer Alan Buxton said, “Our alliance with STSA represents a major step towards our goal of bringing gas to Benin, Togo and Ghana, which remain significantly gas constrained in their power plants and industries.
“In line with the board’s new strategy, the strategic alliance with STSA provides Gasol with access to LNG and a storage and regasification vessel. STSA’s expertise and experience will provide assurance to the lenders.”
STSA head of oil trading Hayal Ahmadzada remarked, “We are delighted to be working with Gasol to help them unlock the value of their Benin LNG Import Project. Creating this alliance will position us well in the region.”
