Belgian shipping company Exmar has penned multi-year agreements with Côte d’Ivoire Energies (CI-Energies) and Société Nationale d’Opérations Pétrolières de la Côte d’Ivoire (Petroci) to provide and operate a 152,000-cubic-meter (cbm) floating storage and regasification unit (FSRU) at the Port of Abidjan, with liquefied natural gas (LNG) imports expected to begin in the third quarter of 2027, as Côte d’Ivoire moves to strengthen gas supply and meet rising power demand.
Exmar’s agreements with CI-Energies and Petroci enable a ten-year lease of a 152,000 cbm and 250 million standard cubic feet per day (scfd) FSRU, and its operation and maintenance in the Port of Abidjan, which is expected to generate annual EBITDA of around $21.3 million.
While elaborating on this fast-track LNG import project, Exmar highlighted: “It emphasises our floating infrastructure solutions as a quick-to-market and competitive solution for securing strategic energy supply. We look forward to building a strong partnership with the teams from Petroci and CI Energies, which we hope to grow in the future.”
The project was deemed a priority by President Ouattara at the start of his fourth term, at the beginning of this year. The Belgian shipowner explains that Petroci will source LNG from the international market, import it through the FSRU from Q3 2027, and deliver the regasified LNG to CI-Energies to produce electricity.
Petroci underlined: “Côte d’Ivoire’s demand for natural gas and electricity continues to grow alongside the country’s economic development. The FSRU represents an important step forward in strengthening our energy security by providing an additional and flexible source of natural gas, complementary to domestic production and existing infrastructure.
“It will help diversify and secure gas supply while supporting the growing needs of the power sector. Together with Exmar and CI-Energies, Petroci is fully committed to the successful implementation of this strategic project and to supporting Côte d’Ivoire’s long-term energy and economic development.”
This FSRU is required to meet the increase in gas and power demand not only in the African nation, with its rising population, growing economy and mining industry, but also additional demand from the neighbouring countries.
CI-Energies noted: “Côte d’Ivoire aspires to become a leading regional energy hub while ensuring the reliable satisfaction of domestic electricity demand. CI-Energies is firmly driving this ambition, whose success depends, among other factors, on the availability of natural gas and the security of gas supply.
“The FSRU Project represents a strategic undertaking and a key enabler that, together with domestic natural gas production, will enable Côte d’Ivoire and the power sector to secure natural gas availability over the short, medium, and long term, thereby fostering the country’s energy and economic growth.“
Exmar has maintained a flurry of activity in recent months, most recently taking delivery of an LNG carrier that will be converted into a floating transshipment unit (FTU) to support the growing LNG bunkering market.