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AIM-listed Chariot has appointed Société Générale’s London branch as its financial advisor to develop debt funding options for the offshore Anchois gas development in Morocco. 

Morocco
Subscriber

The Western Sahara government in exile achieved a diplomatic success in early May when a cargo of phosphate rock destined for New Zealand was intercepted and detained in South Africa. Polisario claimed Moroccan parastatal Office Cherifien des Phosphates (OCP) had produced the phosphate from its mines in the disputed territory. OCP at first tried to suppress the news in Morocco, where the territory is viewed as part of the kingdom.

Morocco
Subscriber

Sonatrach and Spain’s Naturgy have agreed to buy Abu Dhabi sovereign wealth fund Mubadala’s 42.09% stake in the Medgaz pipeline between Algeria and Spain. The transaction will mean that Sonatrach has 51% and Naturgy 49% of the pipeline, with a shareholder agreement giving them joint control. Sonatrach is already Spain’s biggest gas supplier by volume and Naturgy’s fourth largest shareholder with a 4% stake. A €67m ($75m) expansion of the Medgaz pipeline to increase capacity by 2bcm to 10bcm is due to be operational in 2021.

Algeria
Subscriber

The Eni and ExxonMobil-led Mozambique Rovuma Venture has submitted a development plan to the government for the first phase of the Rovuma liquefied natural gas (LNG) project at Afungi, which will produce, liquefy and market natural gas from the Mamba fields in Area 4.The plan details the proposed design and construction of two LNG trains which will each produce 7.6m t/yr of LNG.

Mozambique
Free

Gas-fuelled power projects have an important role to play in Africa, according to African Energy Live Data’s figures. The Africa-wide database lists 313 operating gas-fired plants, with 84,226MW of installed capacity; another 39 plants are under construction (with total 32,933MW capacity) and 156 are planned (66,921MW). The majority are utility-scale facilities supplying national grids; Live Data records 206 of these as operational (75,487MW), 33 under construction (28,754MW) and 119 planned (58,061MW).

Subscriber

A 6 February cabinet meeting approved the development plan for Anadarko’s liquefied natural gas (LNG) project in Area 1 of the Rovuma Basin. The consortium partners plan to develop an LNG facility initially with two 6m t/yr trains to process gas from the Golfinho/Atum field in Area 1. Capacity will be expandable to 50m t/yr. The facility will be built on the Afungi peninsula in Palma district, at the northern end of Cabo Delgado province.

Mozambique
Issue 304 - 10 July 2015

Nigeria: Buhari sacks NNPC board

Subscriber

President Muhammadu Buhari on 26 June dissolved the ten-member board of directors of Nigeria National Petroleum Corporation (NNPC) headed by outgoing petroleum minister Alison Diezani-Madueke. NNPC has long been accused of large-scale corruption, and former central bank governor Lamido Sanusi said in late 2013 that $20bn of oil money had disappeared from its funds. An independent audit ordered by the government in 2014 found only a $1.48bn shortfall, though auditors PwC said they had not had access to the full accounts. Buhari has promised to shed further light on the issue.

Nigeria
Issue 364 - 01 March 2018

Cameroon: LNG production set to start

Subscriber

Golar LNG Ltd said on 28 February that first liquefied natural gas (LNG) production from the floating LNG vessel Hilli Episeyo “is expected to commence in the coming days”. Announcing its 2017 results, Golar said the vessel arrived in Cameroon in late November and customs clearance, positioning, mooring hook-up and connection to the riser and umbilicals followed. In early December, a Notice of Readiness triggering the commissioning process was tendered to upstream operator Perenco and state oil and gas company Société Nationale des Hydrocarbures.

Cameroon
Issue 351 - 28 July 2017

Gabon: Zarubezhneft agreement

Subscriber

Gabon Oil Company has signed a cooperation agreement with Russia’s Zarubezhneft covering joint oil and gas projects in Gabon. A statement from the Russian company said the agreement, which it described as “a roadmap for future cooperation between the companies on possible implementation of oil and gas projects in Gabon”, was signed in Istanbul on the sidelines of the World Petroleum Congress. The roadmap agreement followed a memorandum of understanding signed in early June during the St Petersburg International Economic Forum.

Gabon
Issue 353 - 15 September 2017

Morocco: Sound funding

Subscriber

Sound Energy has received a proposal from Advisory & Finance Group Investment Bank (AFG), which is fund manager to Sound’s Morocco partner OGIF, to fund a pipeline linking Tendrara to the Gazoduc Maghreb Europe (GME) pipeline. The indicative, non-binding commercial proposal is for the provision of funding to cover the construction cost of the Tendrara Gas Export Pipeline (TGEP) of between $60m (the estimated cost of a 12-inch pipeline) and $100m (for a 20-inch pipeline).

Morocco
Subscriber

Zarara Oil & Gas has invited proposals by 23 December from US consultants to develop a feasibility study to evaluate the technical, financial and environmental aspects of the Lamu gas-to-power project. The wholly owned subsidiary of Midway Resources International holds a 75% working interest in onshore natural gas blocks L4 and L13 in Lamu County and plans to develop gas production and treatment facilities to generate electricity.

Kenya
Subscriber

Total has begun supplying 100mcf/d of gas to the 504MW Alaoji power plant, as well as 200mcf/d to industrial consumers via its new Northern Option Pipeline (NOPL), part of the multi-billion dollar OML 58 upgrading project, which includes the 45km Obite-Ubeta-Rumuji (OUR) pipeline in Rivers State and expansion of the Obite Treatment Centre. The pipeline is supplying the full gas requirement of Alaoji, which is a national integrated power project.

Nigeria
Subscriber

The International Finance Corporation (IFC) on 24 July announced a €300m ($337m) financing package for expansion of the Azito Energie gas power plant. The project, known as Azito IV, will add a 181MW gas turbine and 72MW steam turbine to operate in combined cycle, taking total installed capacity to 710MW, with an anticipated production of 2,170GWh/yr. The IFC said the additional power from Azito would displace less efficient and older thermal units in the market, substantially reducing costs and emissions, and contribute to meeting growing domestic and regional electricity demand.

Côte d'Ivoire
Subscriber

BP has given TechnipFMC a front-end engineering design contract for the floating production, storage and offloading (FPSO) unit for the Tortue/Ahmeyim gas field development.TechnipFMC said the agreement provided a mechanism to move to an engineering, procurement, construction and installation contract at a later stage. “TechnipFMC will work on defining the technology and equipment scope and brings expertise to deliver major projects, leveraging extensive experience with Chinese fabrication,” the company said.

Mauritania | Senegal
Subscriber

The Africa50 infrastructure fund has signed a memorandum of understanding (MoU) with the government to structure and mobilise financing for the expansion of the 300MW Centrale Electrique du Congo gas-fired power plant at Pointe Noire. The project envisages expanding the plant’s capacity from 300MW to 450MW in the short term, and possibly to 900MW by 2027.

Congo Brazzaville