Page 12 - AsianOil Week 48 2020

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Ugandan President Yoweri Museveni’s handling In other news, Germany’s Uniper revealed
of oil money. On Museveni’s watch, the balance of last week that it had teamed up with UAE-based
the country’s Petroleum Fund has dropped from Neutral Fuels to provide maritime biofuels in
UGX300bn ($81mn) to UGX87bn ($23mn), he Fujairah, a major hub for bunkering in the Gulf
said at an event marking the launch of the Citizens’ region. The pair will blend very low sulphur fuel
Manifesto on Petroleum and Mining. oil (VLSFO) supplied by Uniper’s marine fuel
unit Uniper Energy DMCC (UED) with Neutral
If you’d like to read more about the key events shaping Fuels’ biofuel. This will create a fuel that com-
Africa’s oil and gas sector then please click here for plies with International Maritime Organisation
NewsBase’s AfrOil Monitor. (IMO) standards.
The announcement comes as the IMO looks
DMEA: Ghana LNG scheme secures funds to strengthen requirements for vessel energy
Ghana’s plans to import LNG have just received a efficiency and impose tougher carbon intensity
kick-start, with the Emerging Africa Infrastruc- reduction requirements. These new rules will
ture Fund (EAIF) agreeing to provide a $31mn likely spur more shipowners to seek out biofuels.
loan to a regasification scheme in the port of
Tema. If you’d like to read more about the key events shaping
The loan, with a duration of 10 years, will go the downstream sector of Africa and the Middle East,
to the project’s developer Access LNG, a joint then please click here for NewsBase’s DMEA Monitor.
venture between Helios Investment Partners and
Gasfin Development. The pair reached financial EurOil: European climate goals
close on the scheme on November 16. Spanish energy firm Repsol has unveiled its
According to Gasfin, the terminal will deliver 2021-2025 strategic plan, announcing it would
250mn cubic feet per day (2.58bn cubic metres cut back on upstream investment in order to
per year) of gas. This gas will be used as fuel plough more money into renewables. Repsol’s
at thermal power plants (TPPs), providing a plans mirror those of other climate-conscious oil
cleaner and less costly option than crude oil and and gas companies in Europe such as BP, which
heavy fuel oil. is likewise seeking to pour billions into clean
Helios partner Ogbemi Ofuya suggested energy in the coming years at the expense of its
Access LNG could provide additional LNG traditionally core oil and gas business.
projects in sub-Saharan Africa. The current The company aims to invest a total of €18.3bn
low price of gas, he said, means “there is a great ($21.8bn) in 2021-2025, of which €5.5bn will
opportunity for Access to support markets be spent on growing its low-carbon business.
switching to natural gas as a clean, cheap transi- It also announced a new organisational struc-
tion fuel as we push developments to support a ture, in which low-carbon energy will be one of
greener, more efficient energy economy.” four main segments. The others are industrial,

P12 www. NEWSBASE .com Week 48 03•December•2020