Scandoil  

Victoria Oil & Gas sign gas sales agreement with ENEO Cameroon


Published Dec 29, 2014
Victoria Oil & Gas Plc

Victoria Oil & Gas’s wholly owned subsidiary Gaz du Cameroun S.A. (GDC) has signed a legally binding term sheet with ENEO Cameroon S.A (ENEO), Cameroon's integrated utility Company, to supply gas to two power stations located in the city of Douala (The Agreement).

GDC has also signed a legally binding term sheet with ENEO and Altaaqa Alternative Solutions Projects DWC-LLC (Altaaqa) a United Arab Emirates equipment supply company. Altaaqa will provide power generation equipment and has responsibility for importing and installing the Gensets at the Douala power stations. GDC will work with Altaaqa to make the initial gas connections.

The term sheets have been signed to enable the project to be expedited to meet ENEO requirements and it is expected that these will be replaced by full contracts in early 2015.

The Agreement with ENEO is a major gas supply contract for VOG in terms of scale and profitability with guaranteed minimum take or pay gas consumption at a fixed US$9/mmbtu over the 2 year contract term.

Tags: Victoria Oil & Gas Plc




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml