Central Africa: Biya's ambition to make Cameroon major energy hub gets fresh boost .

The project company, officials said, is bent on constructing a strategic Petroleum Products Storage Depot (Tank Farm) that adheres to international standards, in the port city of Kribi, in the South Region of the country. 

The resolve was among key resolutions taken during the Second Session of the Board of Directors’ meeting of CSTAR Tank Farm Project Management LLC.

CSTAR Tank Farm Project Management LLC, it should be said, is duly incorporated under Emirati law. It was founded on April 25, 2025, in Dubai, United Arab Emirates, UAE. 

The company’s ownership structure comprises 49% held by Ariana Energy, 31% by TRADEX (an affiliate of SNH), and 20% by the National Hydrocarbons Corporation, SNH- the national oil and gas company of Cameroon. 

The statutory meeting held on Thursday, June 19, 2025, in Dubai, United Arab Emirates, UAE. It was presided by the Chairperson of the Board of Directors of CSTAR Tank Farm Project Management LLC and Chief Executive Officer, CEO, Nathalie Moudiki. 

The strategic petroleum depot facility, the Board of Directors of CSTAR Tank Farm Project Management LLC, said, will boast an initial storage capacity, ranging from 250,000 to 300,000 m3, with provisions for future expansion.

Strategically situated in the immediate vicinity of the Kribi Deep Seaport, the project, to be financed using the Project Finance model to the tune of 200 million US Dollars (estimated at over 114 billion FCFA), it was disclosed, will also enable reliable storage of Gasoil, Super, DPK, and Heavy Fuel.

The construction of the terminal, it was said, will be carried out by the RCG Consortium, a company with a track record of 35 successfully completed, finalised, and delivered projects in this domain.

CTAR Board Chairperson hails project 

In her remarks following the session, the Chairperson of the Board of Directors of CSTAR Tank Farm Project Management LLC and Chief Executive Officer, CEO, Nathalie Moudiki, described the project as a major life wire in the country’s energy security strides. 

“The Kribi strategic petroleum products storage terminal is an infrastructure of historical significance, poised to fundamentally transform Cameroon’s energy development landscape,” Nathalie Moudiki stated.

She said the project is a “tangible response to the ambition of His Excellency Paul Biya, President of the Republic, which is to make Cameroon a major energy and industrial hub in Central Africa”. 

Zoom on other areas of focus 

After deliberations at the statutory meeting, CSTAR Board of Directors adopted resolutions approving the company’s business plan, the cost and financing plan for the Front-End Engineering Design (FEED), as well as the plan for signing the FEED contract.

The Board of Directors also formally decided to establish a new entity, the Joint Operating Company (JOC). 

Structured under Cameroonian law, JOC, a subsidiary of CSTAR, it was decided, will assume responsibility for the operation and maintenance of the Kribi strategic petroleum products storage terminal.

On the advancement of the petroleum depot project itself, it was disclosed that the FEED studies are 80% complete and are expected to be delivered by July 31, 2025.

Prior to the launch of FEED studies, the Joint Management Committee, the body responsible for the strategic and technical coordination of the project, examined the pre-feasibility study, the business plan, the economic and financial model. 

It is also responsible for the contractual terms for the execution of technical studies, as well as the basic terms of the product off-take contract.

This article was first published in The Guardian Post Edition No:3483 of Tuesday June 24, 2025