Page 8 - GLNG Week 14 2021

GLNG AFRICA GLNG

Elton Group plans LNG bunkering and

regasification facility in Dakar

PROJECTS & ELTON Group of Senegal has announced plans LNG-fuelled vessels. It will also be able to take
COMPANIES to set up an LNG bunkering and regasification delivery of LNG and transfer it to a storage depot
facility in Dakar. with a capacity of 140,000 cubic metres for re-ex-
Last week, Agence Ecofin reported that the port to neighbouring countries.
company had been a awarded a concession for Additionally, the terminal will be able
the operation of a new natural gas terminal at to regasify LNG for domestic consumption
the Port of Dakar. Under the concession agree- within Senegal. These capabilities will allow
ment, it will spend CFA70bn ($127mn) on the the facility to strengthen the country’s gas value
construction of a new facility capable of offering chain and help create new jobs, according to
multiple types of services related to the handling Elton Group.
of domestically produced LNG. Abderahmane Ndiaye, the CEO of the group,
Elton Group has not yet divulged the value of said last week that he expected the project to
the project or said when it might begin construc- benefit Senegal’s economy. “This will be the first
tion. However, it has indicated that it intends to port capable of hosting ships using LNG as fuel,
build the terminal in multiple phases – and that giving [Dakar] a significant competitive advan-
the facility will mostly handle LNG produced tage over other ports in the sub-region,” he was
using gas from the Tortue, Yakaar and Birallah quoted as saying by Agence Ecofin.
offshore fields, which have been assigned to BP The scheme will also expand the range of
(UK) and Kosmos Energy (US). Elton Group’s operations. The company cur-
Additionally, it has said the facility will serve rently focuses on petroleum product distri-
multiple functions. When finished, the terminal bution in Mali, Guinea-Bissau, Guinea and
will be capable of berthing and supplying fuel to the Gambia.™

AMERICAS

Sempra to sell infrastructure

unit stake to KKR for $3.4bn

INVESTMENT US-BASED Sempra Energy said this week that at the closing of the deal, it said this week.
it had agreed to sell a 20% interest in its Sempra “Over the past few years, there’s been a gen-
Infrastructure Partners unit to global investment eral move from utilities to focus more on their
firm KKR for $3.37bn in cash. traditional domestic utility business and [place]
The deal comes four months after Sempra less emphasis on their international business,” a
announced that it would form the energy infra- Glenrock Associates analyst, Paul Patterson, was
structure unit in an effort to simplify its business. quoted by Bloomberg as saying. The news ser-
The Sempra unit’s The company said at the time that it intended to vice also cited a Raymond James analyst, Pavel
assets include LNG sell a non-controlling stake in Sempra Infra- Molchanov, as saying selling the stake also set a
projects in the US and structure Partners in order to fund growth and market value for Sempra’s infrastructure unit.
Mexico. “highlight the underlying value of the platform”. “That means that Sempra’s banks, its lend-
Sempra combined its Sempra LNG business ers, can look at this and perhaps improve how
and its Mexican subsidiary, IEnova, into the new they think about the company’s balance sheet,”
infrastructure unit. The unit’s assets include the he said.
operational Cameron LNG export terminal on “Over the next decade, we expect the energy
the US Gulf Coast, as well as the Energía Costa markets in North America to continue to grow
Azul LNG project, which is currently under con- and become increasingly integrated. Combining
struction on Mexico’s Pacific Coast. our resources with KKR improves our ability to
Sempra launched the infrastructure unit capture new investment opportunities in cleaner
as a self-funding platform, as it focuses forms of energy and the critical infrastructure that
more on its US utility business. The sale of stores and transports it,” stated Sempra’s chairman
the stake to KKR values Sempra Infrastruc- and CEO, Jeffrey Martin. “This transaction also
ture Partners at about $25.2bn, including sends a clear signal about the value and expected
expected asset-related debt worth $8.37bn growth of our infrastructure portfolio.”™

P8 www. NEWSBASE .com Week 14 09•April•2021