Importation, storage and marketing of Liquified Petroleum Gas (LPG) in Kenya is poised for a major shift with the construction of a greenfield terminal in Mombasa. Global lender– World Bank through its development arm, International Finance Corporation (IFC) has approved a $23 (2.5 billion) funding for the project by Mombasa Gas Terminal, a company specialising in LPG handling. In its disclosure, IFC says the $23 million project will be financed by an initial loan of $5 million (Sh53.9 million) and $10 million (Sh107.8 million) in additional debt arranged by IFC. A recent study published by the Ministry of Energy ( 2019) shows that 93.2 per cent of the rural population still rely on solid fuels as their primary fuel source. “We embarked on the Mombasa Gas Terminal project to reduce supply constraints and improve the affordability and accessibility of clean fuel usage in the country for both industry and households,” Riungu said.

Source: The Star June 07, 2021 00:56 UTC