Spectr News Theme
Power Sector News

SAHARA GROUP PEGS N400BN FOR AFRICA’S GAS PROJECTS

Admin
Thursday, 14 October 2021

Sahara Group has said it will invest over $1 billion (about N400bn) to enhance access to Liquefied Petroleum Gas (LPG) in Africa and emerging economies.

It said the move is targeted at boosting energy transition on the continent. This is even as it disclosed its intention to build 120,000 metric tonnes LPG storage facilities in Nigeria and ten other African countries.

The process has commenced in seven countries while five others are in the preliminary stages

Temitope Shonubi, Executive Director, Sahara Group disclosed this at the African Refiners and Distribution Association (ARDA) conference 2021 in South Africa where he spoke on the role of LPG in Africa’s energy transition.

In a statement issued by the group, the Executive Director said: “Sahara, through its subsidiary, WAGL Energy Limited, is already working towards investing $1bn to ramp up its LPG fleet and terminal infrastructure over the next five years. In addition to the vessel fleet, Sahara is in the process of building over 120,000 metric tonnes of LPG storage in eleven countries,” he said.

About IWIN

The Independent Energy Watch Initiative (I-WIN), an enterprise of Energy ConServ and the Roundtable for the Growth and Development of Power (RODEP), is an online/web based power sector portal that strives to engage stakeholders and the Nigerian public on topical issues in the power sector.

Login
Forgot Password?/Sign Up
Registration Login
Sign in with social account
or
A password will be send on your post
Reset Password
Login