SOCAR Trading offers Ivory Coast to create LNG infrastructure

"In June 2021, SOCAR Trading submitted its updated LNG infrastructure and supply proposal to the national electricity company of the Ivory Coast, which is the result of several years of research and analysis on optimal technical and commercial solutions for the client," Vitaliy Baylarbayov, Deputy Vice-President of SOCAR for Investments and Marketing, told ICIS in an interview.

SOCAR has already expressed interest in expanding its operations beyond Europe. Entering the liquefied natural gas (LNG) market in 2017, the company has so far traded 2 million tons of LNG.

"While SOCAR Trading is confident that its proposal offers the most competitively priced supply, we understand possibilities of some new domestic gas discoveries are putting the whole process under question," Baylarbayov said.

He added: "On Sri Lanka, our development efforts are progressing through relevant approval processes albeit with certain slowdown related to the effects of new COVID resurgence in the Indian Subcontinent."