Savannah Energy has been commended by the Federal Government for its substantial investment in Nigeria’s energy sector to date and encourages Savannah to sustain the investment.
In a statement issued by the Communications Manager of Savannah Energy, Okwudili Onyia, he disclosed that the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, commended the firm during a visit to the Uquo gas Central Processing Facility in Akwa Ibom State, which is owned by Accugas Limited, a subsidiary of Savannah.
Ekpo said, “Savannah’s substantial investment to date has helped in boosting domestic gas supply in the country, where Savannah now supplies gas enabling approximately 20 per cent of Nigeria’s thermal power generation capacity.”
Speaking on the importance of gas to the Nigerian economy, the minister stated that President Bola Tinubu is very intentional and strategic about developing the gas sector to drive the economy of this nation. “We know that if the economy of Nigeria is driven by gas, it will make things easier and that is the target of the ‘Decade of Gas’ initiative. Our target is to make sure that by 2030, the Nigerian economy will be driven by gas”, he added.
In addition, the Managing Director of Savannah Energy, Nigeria, Pade Durotoye, who accompanied the minister on the Uquo visit, explained that the company, through Accugas Limited, has invested over $1.6bn in gas processing and transportation infrastructure to support the domestic market since 2014.
Durotoye said, “Accugas is also investing an additional $45m in a new compression system at the Uquo facility that will allow the company to continue to provide reliable gas supplies to customers for years to come. The system comprises two parallel trains with a capacity of 160 MMscfpd* each and is designed to increase the gas export pressure. The project is expected to be completed and operational later this year.”
According to Durotoye, Savannah strongly supports the Federal Government’s adoption of natural gas as a transition fuel in Nigeria’s net-zero pathway, particularly for power generation.
He noted that Accugas has invested in constructing a 200 MMscfpd* gas processing facility, along with a ~260 km gas pipeline network specifically for the domestic market.
Furthermore, Durotoye stated that all the company’s gas is consumed domestically, with 80 per cent being sold to thermal power generation companies, and the remainder to a range of large industrial customers, such as cement producers, where, for instance, Accugas enables about 10 per cent of the country’s cement production.
*MMscfpd means Million standard cubic feet per day
