Business News of Tue, 28 Mar 20172
West Africa Gas acquires two LPG vessels to diversify operations
The West Africa Gas Limited (WAGL), an Energy company owned by the Nigerian National Petroleum Corporation (NNPC) and Oceanbed (a member of the Sahara Group), has taken a step further towards becoming a fully-integrated energy company by ordering and completing the construction of a Liquefied Petroleum Gas vessel for commercial activities.
The feat, the first to be achieved by any energy company in Africa, goes a long way in diversifying and strengthening the operations of the company. Ordered at the Hyundai Mipo Shipyard in May 2014, the LPG ship is the first of two vessels ordered by WAGL and is designed for transporting Liquefied Natural Gas (LNG). Each of the vessels have a capacity of 38,000 cubic metres (cbm).
Named MT Africa Gas at its inauguration in Korea recently, the ship makes its first port call to the Tema Port in Ghana from its maiden voyage from Hyundai Mipo Dockyard in South Korea. The other ship, MT Sahara Gas is expected to arrive in West Africa in the coming weeks. Sharing his thoughts on this new milestone achieved by WAGL, Roland Omoreegbe, Managing Director of the company believes that the acquisition of the vessel will help in actualizing the vision of WAGL to be the foremost gas company on the continent.
According to him, “our decision to acquire these vessels demonstrates clearly our commitment to serve the energy needs of all classes of consumers in Africa and beyond.” “This strategic investment” he adds, “is very crucial and underscores our commitment to meeting energy needs across the continent and indeed globally.”
WAGL currently has a Gas Sale Agreement with the Government of Ghana for the supply of 180’000 standard cubic feet of Gas even as construction works at the Tema port to receive first gas for the thermal plants in the Tema energy enclave is underway. The WAGL proposition includes the construction of a jetty, dredging of a channel within