Taleveras, one of Africa’s leading integrated energy conglomerate with offices in London, Geneva, Lagos, Cape Town and Dubai, said it has secured a term deal with a petroleum facility based in Mont Belvieu, Texas, US, for the export of liquified petroleum gas (LPG).
A milestone for the conglomerate, Taleveras will export propane and butane in VLGC volumes taking into account the propane-heavy cargoes to the US with butane making up only 20% of the volume.
Expected to ship out during the first quarter of 2021, the agreement comes at a time where distortion in supply and distribution dynamics are pushing propane industry leaders to ponder the potential impact on marketers’ ability to serve customers reliably, said the statement from Taleveras.
Founded in 1998 by Igho Charles Sanomi II, Taleveras is one of Africa’s leading integrated energy conglomerate operating and investing in upstream, midstream, downstream and power sector.
A key player in the region, it has business interests in energy and infrastructure, oil and gas exploration, production, trading and supply, power and construction.
"Trading within a sector dominated by major global players means we constantly have to maneuver to penetrate and thrive while overcoming industry perception. For emerging entrepreneurs like ourselves, misrepresentation can often become setbacks," stated Chairman Sanomi II.
"Our approach has always been to steer ahead, diversify our portfolio thus sustain growth. Being awarded this contract is a major milestone that confirms our position as key contender in the industry," he added.-TradeArabia News Service