Agreement on gas terminal to be signed in July

09 Jul 2013 10:20
WALVIS BAY, 09 JUL (NAMPA) ? An agreement between the Emirates National Oil Company (ENOC) Ltd and Corridor Gas and Oil on setting up a gas terminal in Lüderitz will be signed during the course of this month.
The Projects and Property Executive at the Namibia Ports Authority (Namport), Immanuel !Hanabeb indicated during a media conference on Namport?s mid-year operations? update here on Tuesday that they are still busy with the feasibility study of the gas terminal.
However, land comprising 16 000 square metres had been allocated for this development.
The project site is situated on Erven 899 and 900 in the industrial harbour area of Lüderitz.
!Hanabeb said the development includes a partnership agreement between Corridor Gas and Oil, which is co-owned by Namibian and Botswanan investors, and ENOC, a Dubai-based company which will serve as the technical partner for the project.
?The last thing that we need to do will be to enter a lease agreement between Corridor Gas and Oil and Namport, and this will be done within the next two months,? he noted.
Upon completion, the project will provide a bulk Liquefied Petroleum Gas (LPG) facility to the Southern African Development Community (SADC) market for domestic and industrial usage.
Earlier this year, Namibia?s Trade and Industry Minister Calle Schlettwein said during an official trip to the United Arab Emirates (UAE) that the discovery of gas in Namibia has prompted more explorative work to be done to gain experience in developing the country?s ports.
Constructing a terminal is a specific business which is not easy to handle, and Namibia wanted to gain experience from ENOC on how such a terminal could be achieved in a port development plan for a logistical hub in southern Africa.
The Senior Director at ENOC, Hesham Ali Mustafa also said at a previous occasion that ENOC had done a detailed market study in Lüderitz, as well as Botswana and other adjacent countries.
Mustafa said the project plans for the 3 000-tonne terminal has been submitted to their Board for endorsement, and that ENOC will be supplying the gas for the project.