Law firm Mayer Brown advised the Republic of Benin on the development of a liquefied natural gas (LNG) import floating terminal and the supply of up to 0,5 million tonnes per annum of regasified LNG to the country.
The Republic of Benin, the Société Béninoise d’Energie Electrique (SBEE) and Total, the second-largest private global LNG player, signed the gas supply agreement and the host government agreement for the installation of the first floating storage regasification unit (FSRU) in sub-Sahara Africa, to be located offshore Benin and connected to the existing and planned power plants in Maria Gléta via pipeline.
Total will import LNG into Benin from its global LNG portfolio and sell gas to SBEE for use by existing and planned power plants at Maria Gléta for 15 years, with gas deliveries expected to start in 2021.
The Mayer Brown team was led by Banking & Finance partner Olivier Mélédo (Paris).