The Ustda (Us Trade and development agency) and the Sovereign Fund for Strategic Investments (Fonsis) signed a memorandum this Friday, August 28, granting the latter a subsidy in the amount of USD 1.2 million, i.e. more than 700 million CFA francs. According to Fonsis, this grant is intended to finance studies relating to the construction of the pipeline network of RGS SA (Senegal Gas Network).
According to a press release from Fonsis, this grant from the US Agency for Trade and Development is intended to finance studies relating to the construction of the pipeline network of RGS SA (Senegal Gas Network).
Indeed, explains the document, RGS SA, a company created by PETROSEN, SENELEC and FONSIS, will transport gas from production sites to places of use (power stations, industries, domestic gas, etc.).
“This agreement is a commitment by USTDA to work with our partners in Senegal, FONSIS, in particular, to develop and extend the country’s natural gas options,” says the director of operations of the American agency, Todd Abrajano.
For his part, the Director General of Fonsis indicates that this grant from Ustda will allow them to go quickly by helping to define the technical specifications and the economic aspects of this very strategic project for Senegal.
Papa Demba Diallo recalls in the wake that RGS SA, a company created with PETROSEN and SENELEC and in agreement with the Ministry of Petroleum and Energy, is a strategic project which, not only will make it possible to accelerate the use of gas, especially in production electricity, but also to lower the cost of electricity in order to develop the industrial sector and make our businesses more competitive.
“The creation of a gas network in Senegal is one of the main links necessary to achieve our country’s ambitious objectives consisting in developing a whole local value chain around the exploitation of Senegalese gas and oil, in the most great transparency, for the exclusive benefit of the people ”, also underlines Abdoulaye Dia, chief of staff to the Minister of Petroleum and Energy.
Bassirou MBAYE
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