Senegal: Yakaar-Teranga $55M Dispute Funds Unrecovered

• Senegal's Prime Minister Al Aminou Lô announced on September 8, 2026, that $55 million, or approximately 30 billion CFA francs, which should have gone to the state from the Yakaar-Teranga gas project, was not recovered.
• Three civil society organizations (OSIDEA, ONG 3D, Forum du justiciable) immediately demanded public explanations and documentation regarding these unrecovered funds.
• This revelation contrasts with a previous announcement on April 22, 2026, by then-Prime Minister Ousmane Sonko, stating Kosmos Energy's withdrawal from Yakaar-Teranga occurred without financial compensation for Senegal.
• The civil society groups are seeking clarification on the nature of the $55 million, why it was not recovered, and the legal basis for any potential waiver, emphasizing the need for transparency in energy contracts.

They underscore the gravity of the situation, particularly given Senegal's current economic and financial constraints, arguing that every resource due to the state must be protected and any decision impacting public finances must be transparently explained and justified to citizens.

A significant financial question has resurfaced regarding the Yakaar-Teranga gas project in Senegal, following a recent statement by Prime Minister Al Aminou Lô. During his General Policy Statement before the National Assembly on September 8, 2026, Prime Minister Lô disclosed the existence of $55 million, equivalent to approximately 30 billion CFA francs, which he indicated should have been remitted to the Senegalese state but was not recovered. This announcement has reignited public debate surrounding the project and the withdrawal of Kosmos Energy.

Immediately following the Prime Minister's revelation, three prominent civil society organizations — OSIDEA, ONG 3D, and the Forum du justiciable — issued a joint communiqué on September 9, 2026. They expressed profound concern over the details shared by Al Aminou Lô concerning the Yakaar-Teranga dossier and the departure of Kosmos Energy. The organizations emphasized that such a declaration, made before the national representative body, is exceptionally serious and necessitates precise, documented public explanations regarding the unrecovered funds.

The current financial scrutiny surrounding the Senegal Yakaar-Teranga 55M USD dispute comes months after the formal withdrawal of Kosmos Energy from the Cayar Offshore Profond gas block. On April 22, 2026, the then-Prime Minister, Ousmane Sonko, had announced that Kosmos Energy's exit from the Yakaar-Teranga project had been secured without any financial compensation for Senegal. This agreement was presented at the time as a successful renegotiation, allowing the state to regain control over a crucial gas asset, with a new license slated for exclusive attribution to PETROSEN.

This earlier declaration, which highlighted a lack of financial compensation related to Kosmos Energy's Senegal withdrawal from the license, now appears to be at odds with Prime Minister Al Aminou Lô's recent disclosure of the $55 million. The civil society groups are seeking clarity on whether the $55 million mentioned by Al Aminou Lô represents a distinct obligation or claim, separate from the terms of Kosmos's withdrawal from the license itself. This distinction is crucial for understanding the full financial implications for the state.

The three civil society organizations, OSIDEA, ONG 3D, and the Forum du justiciable, are not asserting that the non-recovery of the $55 million is a definitive fact, but rather are demanding a thorough clarification of the circumstances. They have called for public disclosure of relevant documents to explain why the sum was not recovered by the state. Their questions extend to identifying the conditions under which any potential waiver might have occurred, and which authority would have been responsible for making or validating such a decision.

Furthermore, the organizations are pressing for details on the legal and contractual basis for any potential renunciation of these funds, as well as the specific agreements reached with Kosmos Energy concerning its departure from Yakaar-Teranga. They underscore the gravity of the situation, particularly given Senegal's current economic and financial constraints, arguing that every resource due to the state must be protected and any decision impacting public finances must be transparently explained and justified to citizens. This highlights the growing call for Senegal energy contract transparency.

This development signals increased scrutiny on the financial terms and withdrawal clauses of major energy projects in Senegal. Lawyers should review existing and future contracts for clear provisions regarding state revenues and potential waivers, advising clients on heightened compliance risks and the need for transparency in dealings with the Senegalese state.

Source: Original reporting via Le Quotidien