Page 14 - DMEA Week 49 2021

DMEA NEWS IN BRIEF DMEA

ENGIE pulls out of $3bn management of NNPC Upstream, led by $30mn loan.
The loan was secured to meet investment
the Group Executive Director, Mr Adokiye
Qatar project Tombomieye, recently, the Governor decried and financing needs of the company’s
that despite having the largest crude oil and
activities, diversify the borrowing structure
A coalition led by the French power utility gas reserve in the country, Akwa Ibom State and extend debt maturity, Aygaz said in a
company ENGIE has withdrawn from lacks significant oil and gas presence. filing with Borsa Istanbul.
competing for a $3 billion Qatari project that He maintained that in line with his “Interest rate is determined as 6 months
aims to build a power and water desalination administration’s industralisation drive, the Libor+2.5%. For the post-Libor period,
plant. state cannot wait for the license for a big, pricing transition will be provided within
This happens as uncertainty about the conventional refinery but a modular refinery the framework of market practices under
prices of future projects lingers amid the just for aviation fuel. the contract until March 30, 2023,” the filing
disruption of global supply chains, Al Arabiya “We are looking at all the gateways that stated.
reported citing sources. can promote tourism and development and The three-year loan with a principal
The withdrawal came as investment we need the support of NNPC and everybody payment at maturity is expected to be
feasibility was lower than the original plan and including product marketers. Right now, we withdrawn by the end of 2021, the company
the responsible party’s refusal to amend the are building the smartest terminal building in said.
terms of the contract, the report said. Africa that will process one million passengers BNE
Sources added the withdrawal means the every year.
Japanese investment company Marubeni “We need a depot there for aviation fuel we
alliance has won the project. might not wait for a big refinery, just license TERMINALS & SHIPPING
Qatar’s new project aims to produce for a modular refinery. We don’t have a single
electricity from gas with a capacity of 2.5 GW presence of the oil and gas in Akwa Ibom,” the Tanzania’s Samia supports
and desalinate over 100 million gallons of Governor disclosed.
water per day. Business Post had earlier reported that fuel storage
ARAB NEWS the Governor also appealed to NNPC to
relocate the corporate headquarters of some President Samia Suluhu Hassan has
of its subsidiaries to occupy a smart office commended the decision by the Tanzania
REFINING accommodation at the Dakkada Towers in the Ports Authority (TPA) to suspend the dubious
state. project for the construction of fuel tanks at
Akwa Ibom wants refinery the headquarters of some of its subsidiaries to the Dar es Salaam Port, while the government
“We are appealing to NNPC to relocate
has shares in PUMA Energy Tanzania Limited
As part of continued efforts to get an occupy the smart office accommodation at the that has several unused tanks.
increased share of Nigeria’s oil and gas Dakkada Towers. Four floors are there for the The similar ownership of shares is also
revenue, the Akwa Ibom State Government entire group, NUPRC, NAPIMS, NNPC,” he in the Tanzania International Petroleum
has sought for a partnership with the Nigerian had said. Reserves Limited (TIPER).
National Petroleum Corporation (NNPC) BUSINESS POST According to the Head of State, it was not
Limited for the refining of aviation fuel in the ringing in mind, why the government has
state. 50 per cent stake in shares of Puma Energy
Governor Udom Emmanuel made a FUELS Tanzania- a subsidiary of global oil firm
request for a license from NNPC Limited for Puma International, and the same time TPA
the establishment of a modular refinery for Turkish LPG distributor contracting other private companies to do a
aviation fuel to service the state’s growing similar job at the country’s major port.
aviation industry and the country at large. Aygaz inks deal for $30mn President Samia was speaking on Saturday
Mr Udom said the request was imperative during her working visit at the Dar es Salaam
as the state was currently constructing an loan Port, where among other things, she expressed
international airport with a smart airport her dissatisfaction over several working
terminal, which when completed would make Aygaz, Turkey’s leading LPG distributor, irregularities within some officials at the port.
the state a major aviation gateway. owned by the country’s largest industrial At the event, the President equally
Speaking while playing host to the group, Koc, has signed an agreement for a officiated the launching of pier number 0 to 7

P14 www. NEWSBASE .com Week 49 09•December•2021