Oando signs contract with Oilserve
Gaslink Nigeria Limited, a subsidiary of Oando PLC, Nigeria’s leading indigenous energy group, has signed a contract with Oilserve Limited to extend Oando’s existing 100km natural gas distribution network from Ijora to the Marina Central Business District in Lagos state. The Greater Lagos project extension contract signing enables Gaslink to engage the expertise and experience of Oilserv to proficiently increase Oando’s gas distribution capacity.
Commenting on the signing of the construction contract, Mr. Bolaji Osunsanya, CEO Oando Gas and Power (OGP), said: “We are extremely pleased with the strides we have made thus far, and our overall strategy remains focused on the aggressive expansion and growth of our asset portfolio. The extension of the Greater Lagos network further underlines our push to strengthen our market play within the vibrant gas sector.”
A recent enumeration exercise conducted by OGP in the Lagos Island area revealed considerable demand, particularly for power generation, and key off-takers along the proposed pipeline route have expressed their interest and have begun to sign Gas Sale and Purchase Agreements (GSPAs) with Gaslink. The extension project will have a substantial socio-economic impact on the Central Business District, as the availability of natural gas in the area will attract industrial investors and businesses thereby enhancing commerce and industry in Lagos state. Natural gas is a cheaper alternative to diesel and low pour fuel oil (LPFO) which has been in use by industries and commercial consumers to augment the epileptic power supply from the national grid. The project is also expected to have a positive environmental impact as natural gas, which is more environmentally friendly, will displace diesel and LPFO as the primary fuel source in industries and power generation plants in areas the infrastructure covers. The pipeline extension is approximately 8km in length, 12 inches in diameter, and is expected to take approximately 18 months to complete.
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