Damien Tay, vice president of corporate development at Gasol plc discusses the reason behind the firm’s departure from the AIM market last year and the strategy for the group going forward.
Twelve months ago the Africa focused oil and gas services specialist revealed it planned to depart the Alternative investment Market, claiming it was no longer in shareholder’s best interests to be a listed company.
Speaking at the Oil & Gas council’s 2015 Africa Assembly, Tay says complications around takeovers and lack of institutional investment interest led to the delisting.
The focus now is to develop gas reserves in West Africa and transport that gas for use in power projects in Nigeria, as well as through the West African Gas Pipeline to Benin, Togo, Ghana and beyond.
The firm is also working on a liquefied natural gas-to-power project in Malta.