Seplat Plc’s Director of New Energy, Effiong Okon, has revealed the company’s plans to construct a new $250 million gas plant in Sapele, Delta State.
The announcement was made during the Nigeria Oil and Gas Outlook event in Lagos, where Effiong outlined Seplat’s vision to contribute to the country’s energy landscape.
The new plant in Sapele is expected to enhance Seplat’s role in delivering liquefied petroleum gases (LPGs) to the market.
The move aligns with the global trend of increased interest and investments in energy-related ventures, with Africa, particularly Nigeria, emerging as a key player in this landscape.
Nigeria holds the largest natural gas reserves on the continent, and there is anticipation of substantial investments in the country’s energy sector.
Effiong also provided insights into Seplat’s timeline, stating that the Joint Venture gas processing facility in Imo State is set to be completed by December, with plans for commissioning in January 2024.
During a panel discussion on secured energy transition towards gas, Effiong emphasized the crucial role of the private sector in driving investments in the oil and gas sector.
He highlighted the importance of government support through policies and ensuring a secure environment to foster sustainable growth and development in the industry.
Energy costs, constituting over 30% of businesses in Nigeria, have been a significant concern for industries.
The increase in petrol prices has added to the challenges faced by small and medium-sized enterprises (MSMEs) already dealing with various operating conditions.
Seplat’s investment in a new gas plant reflects a commitment to addressing some of these challenges and contributing to Nigeria’s energy future.
Source: PUNCH