Yaounde, Cameroon Africa October 2010 (news.cameroon-today.com) - GDF Suez SA an energy firm based out of France is planning to deploy 5 billion dollars to set up an LNG plant in Cameroon.
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A French energy company GDF Suez SA is all set to fund a liquified natural gas plant in Cameroon. A member of the top brass of the company speaking on behalf of the energy major told the press today that the company plans to invest around 5 billion USD to commission the plant.
“Cameroon’s government is conversant with our project here in the country, for which we’ll be investing $5 billion – not a negligible sum,” said the president and CEO of GDF Global LNG Philippe Olivier.
Olivier addressed the press after conducting detailed discussions with Cameroon’s president Paul Biya. He stated that he has appraised the President with a detailed status update on the nuances of the energy project which is proposed to be established in the coastal province of Kribi.
In 2008, GDF Suez had inked a deal with the National Hydrocarbons Corp. an energy business fully owned by the government of Cameroon to browse for LNG in Kribi,which is situated around 300 kilometers southwest of the capital, Yaounde.
“We’re satisfied and comforted by President Paul Biya in putting the Cameroon LNG project on the rails,” said Philippe Olivier after meeting the Cameroonian leader.
