Gasol plc, the West African energy development company, has announced its affiliate, Afgen, has signed an agreement with Dredging International, in relation to dredging, marine engineering and pipeline construction works in Cotonou harbour, Benin, for its proposed LNG Import Project.

The strategic alliance agreement enables the parties to work together to develop the detailed specifications and agreements for the project on an exclusive basis. 

Key Points in the deal are:

·          Alliance represents another important step in the implementation of Gasol’s Project in Benin;

·          Key development for Gasol, as Dredging International becomes sole interface for contracting works with single point responsibility;

·          Turnkey Design and Build Contract for the Project to include dredging, soil investigation, breakwater construction, pipeline and associated LNG vessels infrastructure;

·          Dredging International to assist Afgen in the technical and commercial optimization of the project, including the use of dredging waste in forming reclaimed land;

·          Dredging International and its affiliated civil partner Sogea Satom already appointed to undertake contracting works for the Port Authority Cotonou (“PAC”), and will so far as reasonably practicable integrate the project with their current work programme; and

·          Dredging International to work alongside the provider of the Floating Storage and Regasification Facilities at Cotonou harbour.

Alan Buxton, Chief Operating Officer at Gasol, said, “Our alliance with Dredging International substantially derisks our Benin LNG Import Project. Dredging International will lead a consortium, which represents best in class in dredging, land reclamation and marine engineering. Their familiarity with Cotonou harbour, given the other recent work they have undertaken for the Port Authority, means that they are the most suited partner, and I am delighted that we are working together.”

“The fact that we have been able to conclude such a strategic alliance is a strong endorsement of the development works done by Gasol and its affiliate Afgen on behalf of the Project.”