Gide and SCPA 3K Advise Petroci on the Construction of a Liquefied Petroleum Gas (LPG) Storage Infrastructure in Abidjan

13 November 2020
Content from a Premium Partner
35Nord (Paris)

The teams of international law firm Gide, working with Ivorian law firm SCPA 3K, under the coordination of Nicolas Jean (Gide), advised the national oil operations company of Côte d'Ivoire, PETROCI-Holding, on the construction of a liquefied petroleum gas (LPG) storage facility with capacity of 12,000 metric tons in the port of Abidjan, in partnership with SAHARA Energy Logistics Holdings Limited (SAHARA).

During a Council of Ministers meeting held on 9 September 2020, the government of Côte d'Ivoire approved the acquisition by PETROCI Holding of a stake in the share capital of SAHARA PETROCI Energy S.A (SAPET
Energy), a joint venture that will develop, operate and maintain the storage capacity. This decision was formalised by the signature of a shareholders' agreement between PETROCI Holding (35%) and SAHARA (65%).

This new storage facility, the total cost of which is estimated at CFA 23.9 billion (approx. EUR 36.6 million), will increase Côte d'Ivoire's LPG storage capacity by 60%, thereby increasing consumption autonomy
from 15 to 27 days and securing its LPG supply. The project will thus promote the uptake of LPG use, initiated by the government with a view to curbing deforestation and safeguarding the environment.

The Gide team was headed by partner Nicolas Jean (Projects - Finance & Infrastructure), working with associates Perrine Delandre, Célia Alao and Constance Emié on project aspects; partner Julien David on Corporate / M&A aspects; and partner Alexandre Gauthier and associate Thomas Brusq on public law aspects. SCPA 3K partner Adama Koné also acted for PETROCI Holding on aspects of Ivorian law.

SAHARA International was advised by BILE-AKA, BRIZOUA-BI & Associés.
_________
About Gide

Gide is a leading international law firm and the first to have originated in France.
Founded in Paris in 1920, the firm now operates from 11 offices throughout the world. It has 500 lawyers, drawn from 35 different nationalities. Gide offers some of the most respected specialists in each of the various sectors of national and international business law.

gide.com
@GideLawFirm

Tagged:
Copyright © 2020 35Nord. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 600 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.