Exmar taps Côte d’Ivoire’s energy ambitions with new FSRU project 

The Belgian shipowner disclosed on 17 September that it had entered into agreements with Côte d’Ivoire Energies (CI-Energies) and Société Nationale d’Opérations Pétrolières de la Côte d’Ivoire (Petroci) for the 10-year lease of a 152,000-m³ FSRU, with a regasification capacity of 250 million standard cubic feet per day (MMSCFD), as well as its operation and maintenance, at the Port of Abidjan.

Exmar expects to generate EBITDA of around US$21.3M from the project.

The company has been increasingly active in converting LNG carriers for alternative applications. During the summer, it secured an initial seven-year charter for 2006-built, 146,000-m³ Simaisma, which will be converted into a floating transshipment unit (FTU) serving the LNG bunkering market.

Meanwhile, 2005-built, 145,896-m³ Tura, formerly known as Ummera, is also undergoing conversion and is set to operate as a floating storage unit (FSU) for a project in Colombia.

Last April, Exmar also launched conversion works on another FSRU as part of a planned expansion of the EemsEnergyTerminal facility at the port of Eemshaven in Groningen, the Netherlands.

“Leading regional energy hub”

Petroci is expected to source LNG from the international market and import it through Exmar’s FSRU from Q3 2027. The regasified LNG will then be delivered to CI-Energies for power generation.

“The FSRU is required to meet the increase in gas and power demand both inside Côte d’Ivoire, with its rising population, prosperous economy and growing mining industry, and additional demand from the neighbouring countries,” Exmar said.

The project was designated as a priority by President Alassane Ouattara at the beginning of his fourth term earlier this year.

Exmar added that the project highlights the company’s floating infrastructure solutions as a quick-to-market and competitive option for securing strategic energy supplies.

“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,” Petroci said.

“Côte d’Ivoire aspires to become a leading regional energy hub while ensuring the reliable satisfaction of domestic electricity demand,” CI-Energies said.

“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,” the company added.