As part of the ongoing investment in the downstream sector of the oil and gas industry in Nigeria, Seplat sets to build a new $250 million gas in Sapele, Delta state. This was made known by the Director of New Energy at Seplat PLC, Mr. Effiong Okon.
He disclosed this during Nigeria Oil and Gas Outlook themed Investing in Nigeria’s Energy Future held in Lagos, according to Opera News.
While speaking during a panel discussion on secured energy transition towards gas, Mr. Effiong said, “We are also starting a brand-new plant in Sapele, the Sapele gas plant – another $250 million investment that will deliver a lot of LPGs to the market”.
He explained the company’s intention of completing the JV gas processing facility in Imo by December and to Commission it by January 2024. Adding that the private sector should take the lead when it comes to investment in oil and gas. Urging the government to support policies and ensure a safe environment.
Another speaker during the panel discussion, Felix Ekundayo spoke on the need for local financing of downstream gas projects in Nigeria, noting that foreign investments are not always reliable.