Seplat Energy, an energy supplier in Nigeria, has confirmed that it is moving closer to reaching commercial terms on a new gas development, signaling fresh progress in Nigeria’s efforts to expand domestic supply and unlock its LNG (Liquefied Natural Gas) potential.
Roger Brown, Seplat Energy CEO, speaking at “African Energy Week (AEW): Invest in African Energies 2025” in Cape Town, said the company was advancing discussions around a stranded asset that could support LNG opportunities.
Brown said, “Onshore, we’re very clear on our gas strategy. We have three gas plants and are one of the biggest suppliers domestically. One of our assets – the Yoho field – is stranded and prime for LNG. We’re getting very close to reaching commercial terms on that.”
The company is also reinforcing its capital base through a blend of local and international financing, which includes the successful completion of its third Eurobond earlier this year. Brown said, “Local financing is critical because the financiers understand the terrain.”
He added that Nigeria’s enabling environment is improving, with five upstream deals approved last year alongside a government target of achieving 3 million barrels per day by 2030 – clear signals that the sector is becoming increasingly attractive to investors.
