Oando divests interest in captive power plants

Kunle Kalejaye 08 March 2017, Sweetcrude, Lagos – Oando Gas and Power, OGP, a subsidiary of Oando Plc, says it has decided to divested its interest in captive power plants and focus its ambition on the expansion of gas infrastructure.

Speaking on the sideline of the 16th Nigeria Oil and Gas Conference and Exhibition in Abuja, Managing Director, OGP, Mr. Bolaji Osunsanya, stated that as portfolio developers, the company has divested from captive power plants and aggressively focused on the expansion of its Gaslink franchise which serves over 160 industrial and commercial customers across the Greater Lagos area.

“Our joint venture subsidiary with the Rivers State government, Central Horizon Gas Company, is poised to complete an additional 9 kilometres of pipeline infrastructure within the Trans-Amadi area by the end of the first quarter of this year.
“Also, our compressed natural gas (CNG) entity, Gas Network Limited (GNL), which is our pioneering virtual pipeline initiative currently, delivers gas to customers within a 100 kilometre radius,” he stated.

In the medium term, Osunsanya said the firm’s critical flanks are to ensure gas supply security, develop virtual pipelines asset stable and gas processing infrastructure. In the long term, he noted, Oando Gas and Power expects long-term appropriate infrastructure financing, expansion of last-mile distribution infrastructure with focus on regional growth.

About the Author