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Issue 498 - 08 January 2024

Vivo acquires Mayotte LPG firm Somagaz


Africa-focused downstream giant Vivo Energy has finalised the acquisition of Indian Ocean liquid petroleum gas (LPG) player, Société Industrielle et Gazière de Mayotte (Somagaz). The move follows Vivo’s 2023 purchase of stakes in African LPG businesses in Namibia and Réunion.


The Republic of Maldives is raising a debut sovereign sukuk (Islamic bond), marking its entry into the Sharia-compliant market. The $200m five-year senior unsecured rule 144A/Reg S sukuk – rated B3 by Moody’s Investors Service – carries a 9.875% semi-annual coupon.

Réunion | Seychelles | Mayotte | Comoros

As the Cabo Delgado insurgency unfolds, Total’s MLNG project in Area 1 is the most exposed to the violence of the three northern liquefied natural gas schemes. However, ExxonMobil again delayed its final investment decision on the Rovuma LNG scheme in 2020 and there is no word on when FID will now come. ExxonMobil in early March postponed making an FID for the third consecutive year.

Mozambique | Mayotte

The Central Electricity Board (CEB) has launched a tender for the design, manufacture, supply, installation, testing and commissioning of 14MW of battery storage. The systems are to be located at four substations: 4MW at Jin Fei, 2MW at La Tour Koenig, 4MW at Anahita and 4MW at Wooton. All four systems are to be running within a year of the contract being awarded. The batteries will be able to provide power at their rated capacity for at least 15 minutes to help stabilise the grid.

Mauritius | Mayotte