(Ecofin Agency) - The petroleum firm Tradex, subsidiary of Société Nationale des Hydrocarbures (SNH) specialized in the trade, bunkering and retailing of petroleum end-products, is now present in four of CEMAC’s member-states. Indeed, after Cameroon, Central African Republic and Chad, the company officially launched its activities in Equatorial Guinea on November 3, 2015, an official release reveals

Tradex Equatorial Guinea operates as a result of the signing of a partnership agreement with Luba Oil Terminal Equatorial Guinea (LOTEG). Under the agreement, “Tadex is to store its products in LOTEG’s buildings at the Luba Free Port and exclusively supply ships that get fuel at this port”. With its Equatorial Guinean subsidiary, Tradex plans to “supply in hydrocarbons the various tanks, fishing trawlers and other ships deploying over the Gulf of Guinea”.

“Tradex wishes to actively contribute to the development of Equatorial Guinea. The company subscribes to a South-south partnership which is promoted by the President of Equatorial Guinea. It hopes to, on the long term, conclude partnerships with local promoters, so as to provide its full expertise, products and services, for the benefit of businesses and households in Equatorial Guinea”, Tradex’s Director General Perrial Jean Nyodog said during the official launching of the Cameroonian firm’s activities in Equatorial Guinea.

Founded in 1999 in Cameroon by SNH and some private investors, Tradex presently has 78 filling stations where Tradex gas and Tradex lubricants are sold. To strengthen its position on Cameroon’s domestic gas market and capture Central Africa, the petroleum operator who is the light bearer of local firms in a petroleum industry dominated by multinationals, announced in May 2015, it had given out 26% of its capital to the Swiss firm Geogas.

BRM