Page 12 - AfrOil Week 29

AfrOil INVESTMENT AfrOil

Plan for Escravos GTL plant (Image: Terra Energy Services Nigeria)
“Chevron Nigeria Ltd (CNL), operator of solution and remains a critical part of the over-
the [EGTL] joint venture between Nigerian all NNPC/CNL joint venture gas commerciali-
National Petroleum Corp. (NNPC) and CNL, sation strategy,” he said.
confirms that Sasol and Chevron have signed an Equity in the Escravos facility is now split
agreement that will see Sasol Middle East and between CNL, with 80%, and NNPC, with
India sell its shares in Chevron Sasol EGTL to 20%. The plant is capable of processing around
Chevron,” Brikinn stated. “With the sale of these 325mn cubic feet (9.203mn cubic metres) per
shares, Sasol’s indirect interest in the Escravos day of associated gas. It turns out 33,000-34,000
gas-to-liquids (EGTL) asset will now be held by barrels per day (bpd) of synthetic fuels, with die-
CNL.” sel accounting for most of the total.
He did not divulge the terms of the acquisi- Sasol announced plans to unload its indirect
tion. Nevertheless, he did note that the EGTL stake in the EGTL plant last month as part of a
project was providing support to the Nigerian wider effort to optimise its asset portfolio.
government’s efforts to reduce the flaring of At the time, it said it would continue to pro-
associated gas from oil wells. vide Chevron with support at the facility by
“The EGTL, together with the Escravos Gas supplying technology, technical support and
Plant (EGP3), provides a reliable flares-out catalysts. ™

Total reveals details of $14.9bn

financing deal for Mozambique LNG

MOZAMBIQUE FRANCE’S Total has divulged some details of Bank of Thailand (EXIM Thailand), the Japan
a recently signed financing agreement that will Bank for International Co-operation (JBIC),
cover around three quarters of the projected Japan’s Nippon Export and Investment Insur-
costs of the Mozambique LNG project. ance (NEXI), Italy’s Servizi Assicurativi del
In a statement, Total said that members of Commercio Estero (SACE), UK Export Finance
the Mozambique LNG consortium had signed (UKEF) and the US Export-Import Bank (US
a senior debt financing deal worth $14.9bn. This Eximbank), it said.
is equivalent to almost 75% of post-final invest- Total did not name all of the commercial
ment decision (FID) costs, which have been esti- banks involved in the deal.
mated at $20bn. According to previous reports, the partic-
The French company noted that the signa- ipants include Japan’s top three private-sector
tories included eight export credit agencies commercial banks, Mitsubishi UFJ Financial
(ECAs) and 19 commercial banks, as well as the Group (MUFG), Sumitomo Mitsui Financial
African Development Bank (AfDB), a multi-lat- and Mizuho Financial.
eral institution. The ECAs are Atradius DSB of Jean-Pierre Sbraire, the CFO of Total,
the Netherlands, South Africa’s Export Credit expressed satisfaction with the financing
Insurance Corp. (ECIC), the Export-Import agreement.

P12 www. NEWSBASE .com Week 29 22•July•2020