The Federal Government says it hopes to generate $200 million annually into the country’s coffers from the Integrated Gas Handling Facility (IGHF) and Liquefied Petroleum Gas (LPG) processing and dispensing plants in Ologbo, Edo State.
Investment newsletter from Nigerian Investment Promotion Commission, NIPC, says the lean gas can generate at least 267 megawatts of power per day and also ensure feedstock to gas-based industries. In total , the NPDC stands to generate revenue in excess of $200m per annum from the IGHF plant,” a documentary put together by the NPDC during the event showed.
Speaking during a ceremony to declare the over 200 million standard cubit feet per day project open, President Muhammadu Buhari said Nigeria is closer to the nation’s dream of full utilisation of its abundant gas potential.
The facility was built and operated by Nigerian Petroleum Development Company (NPDC), an upstream subsidiary of the Nigerian National Petroleum Corporation (NNPC).
Buhari confirmed that the integrated project was capable of supplying 20 per cent of the current LPG demand in the country, stressing that it underlines the seriousness with which the Federal Government is handling its gas projects.
“The Oredo Integrated Gas Handling Facility and its associated NGLs depot will be delivering 240,000 metric tonnes of commercial grade liquefied petroleum gas and propane. It will also deliver about 205 million standard cubic feet per day of lean gas to the domestic market…”