(Ecofin Agency) - Ivory Coast has signed a partnership deal to create a group led by Total for the construction of a liquefied natural gas (LNG) import terminal to start receiving gas shipments by mid-2018.

The consortium will include Shell, Endeavor Energy, Ivory Coast’s state oil company Petroci, CI-Energies, SOCAR and Golar LNG with Total as the operator of the project.

According to the Ministry of Energy, the country has become one of Africa's fast growing economies and demand for electricity is growing by 10% every year.

“The arrival of LNG in Ivory Coast opens a new era in the production of electricity,” Adama Toungara (photo), the Energy Minister said.

The project involves the construction and operation of floating storage regasification unit (FSRU) with an initial capacity of 100 million cubic feet at an estimated cost of $200 million. The FSRU will later be increased to about 500 million cubic feet.

Total said talks in Ivory Coast were at an initial stage. The company said it intends to invest and finance downstream gas infrastructure, particularly in countries where there is a rising demand for electricity. The move it said, could attract new gas buyers, Reuters reports.

Anita Fatunji