Exmar secures ten-year FSRU contract in Côte d’Ivoire

Belgian shipowner Exmar has secured multi-year contracts with Côte d’Ivoire Energies and Société Nationale d’Opérations Pétrolières de la Côte d’Ivoire to deploy a floating storage and regasification unit at the Port of Abidjan. As reported by Navingo BV, the project entails a ten-year lease for a 152,000-cubic-meter vessel capable of processing 250 million standard cubic feet per day. The agreement covers both the provision of the unit and its ongoing maintenance and operation. Exmar anticipates that this infrastructure deployment will contribute approximately $21.3 million in annual EBITDA to the company.

The initiative is designed to bolster regional energy security and address increasing power requirements in Côte d’Ivoire. According to the project timeline, LNG imports are scheduled to commence in the third quarter of 2027. Under the agreed structure, Petroci will be responsible for procuring LNG from international markets, which will then be processed through the FSRU and delivered to CI-Energies for electricity generation. The project has been identified as a priority by the Ivorian government, having been highlighted by President Ouattara at the start of his fourth term earlier this year.

The FSRU is intended to serve as a flexible energy source that complements existing domestic natural gas production and infrastructure. Stakeholders noted that the project will support the country’s economic development, which is currently driven by a growing population, an expanding mining sector, and rising electricity demand. Furthermore, the facility is expected to assist Côte d’Ivoire in its ambition to function as a regional energy hub, providing potential capacity to supply neighbouring nations. This fast-track development is being positioned as a competitive solution for securing strategic energy supplies in the West African market.

Representatives from the participating entities emphasised the importance of the project for long-term economic growth. CI-Energies stated that the availability of natural gas is a critical factor in ensuring the reliability of the domestic power sector. By diversifying the energy mix, the FSRU will provide the necessary flexibility to meet short, medium, and long-term demand. The partnership aims to combine Exmar’s floating infrastructure expertise with local operational knowledge to ensure the successful implementation of the import terminal, which is viewed as a key enabler for the nation’s industrial and energy objectives.

This latest contract follows a period of significant activity for the Belgian shipowner. Exmar recently took delivery of an LNG carrier destined for conversion into a floating transshipment unit. This conversion project is intended to support the expanding LNG bunkering sector, reflecting the company’s broader strategy of focusing on specialised floating infrastructure solutions. The Côte d’Ivoire project further extends Exmar’s footprint in West Africa, aligning with its objective to provide quick-to-market energy solutions that address the specific infrastructure needs of emerging regional markets.