Business In Cameroon20 Apr 2021 10:59
Thanks to a commitment to pay FCFA 2.7 billion, Eneo puts an end to its dispute with Gaz du Cameroun
Business in Cameroon) - In an official press release made public on April 19, 2021, Victoria Oil & Gas (VOG), parent company of Gaz du Cameroun (GDC), announces that it has finally reached a definitive agreement with Eneo, the exclusive distributor of electricity in Cameroon. “? On April 16, 2021, GDC signed a settlement agreement with Eneo, which will result in the payment of the gross amount to GDC, within 30 days of signing, of approximately 2.74 billion FCFA (approximately 5 million dollars). This payment applies to Take-or-Pay invoices for October, November and December 2019, plus associated interest. (…) The payment to GDC will represent the full and final settlement of all amounts invoiced to Eneo ?”, reveals VOG.
“? We are very happy to have resolved this problem without resorting to long and costly litigation or arbitration. Because legal fees have crippled the company in recent years. Arbitration would fall under Cameroonian law and could have taken several years, ?”said Roy Kelly, Managing Director of VOG.
Asked about the evolution of his dispute with the fuel supplier GDC, in a recent interview with Business in Cameroon , the CEO of Eneo was already confident. "? The dispute is appeased and in the process of amicable settlement, ?" Eric Mansuy said, without further clarification.
As a reminder, in a note published on July 3, 2020, VOG announced the termination of its gas supply contract to the electrician Eneo, for the operation of the Logbaba plant (50 MW). The British oil and gas operator then threatened to take legal action if the electricity producer did not pay it the 9.3 billion FCFA of unpaid debts accumulated at the end of June 2020, although the fuel was no longer available. never been delivered to Eneo for a good part of the aforementioned period.
“? It should first be noted that the substance of this dispute does not relate to invoices, but to the conditions for resuming gas and electricity production on the Logbaba site. And this is the essence of the matter, ?”explained the CEO of Eneo in an interview with Business in Cameroon . And to add: “ ?know that in general, disputes in the sector are settled rather amicably, and often with the help of the public authorities. Gaz du Cameroun's attitude contrasts sharply with this usual practice, because everyone has an interest in the sector moving forward.?», Had confided Eric Mansuy, who was obviously able to bring the leaders of GDC back to the negotiating table which led to the agreement signed on April 16, 2021.
Brice R. Mbodiam
https://www.investiraucameroun.com/energie/2004-16263-grace-a-un-engagement-a-payer-2-7-milliards-de-fcfa-eneo-met-un-terme-a-son-litige-avec-gaz-du-cameroun
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