- Total (NYSE:TOT) says it will lead a consortium of companies to build a liquid natural gas import terminal in Ivory Coast meant to feed the country's growing electricity consumption, with a final investment decision on the project expected in Q1 2017.
- The project aims to build and operate a floating storage regasification unit with an initial capacity of 100M cf that would gradually be brought up to 400M cf; the cost of the project, expected to take ~18 months to complete, has been cut to $100M from an earlier estimate of $200M.
- The consortium is 34% owned by TOT, 26% controlled by Azerbaijan's state-owned SOCAR, 13% by Royal Dutch Shell (RDS.A, RDS.B), and 11% by Ivorian state oil company Petroci, with smaller stakes held by Golar LNG (NASDAQ:GLNG) and Endeavor Energy.