09 January 2014, Lagos – Nigeria’s indigenous energy group, Oando Plc, said it has concluded plans to extend natural gas distribution network of its Greater Lagos Area franchise from Ijora to the Marina Central Business District.
The project, which is being executed by one of its subsidiaries, Gaslink Nigeria Limited in conjunction with Oilserve Limited, will increase available gas distribution capacity from current utilisation put at 55mmscf/d against 85mmscf/d installed capacity.
Oando argued that the venture will have a substantial socio-economic impact on the Central Business District, as the availability of natural gas in those areas will attract industrial investors and businesses thereby enhancing commerce and industry in Lagos State.
Natural gas is a cheaper alternative to liquid fuels such as diesel and low pour fuel oil, LPFO, that have been used by industries and commercial customers to augment the epileptic power supply from the national grid.
The project is also expected to have a positive environmental impact as natural gas, which is more environmentally friendly, will displace diesel/LPFO as the primary fuel source in the industries and power generation plants in the areas.
Commenting on the signing of the Construction Contract, the Chief Executive Officer, CEO, Oando Gas and Power, Mr. Bolaji Osunsanya, said, “We are extremely pleased with the strides we have made thus far, and our overall strategy remains focused on the aggressive expansion and growth of our asset portfolio.”