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Monday, 13 March 2017

Oando divests interest in captive power plants

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By Sebastine Obasi

OANDO Gas and Power (OGP), a subsidiary of Oando Plc, said it has divested its interest in captive power plants as it is focusing its ambition on expansion of gas infrastructure.

Speaking on the sideline of the 16th Nigeria Oil and Gas Conference and Exhibition in Abuja, the Managing Director, OGP, Mr. Bolaji Osunsanya, stated that “As portfolio developers, we have divested from our captive power plants and aggressively focused on the expansion of our Gaslink franchise which serves over 160 industrial and commercial customers across the Greater Lagos area.

“Our joint venture subsidiary with the Rivers State government, Central Horizon Gas Company, is poised to complete an additional 9 kilometres of pipeline infrastructure within the Trans-Amadi area by the end of first quarter of this year.

“Also, our compressed natural gas (CNG) entity, Gas Network Limited (GNL), which is our pioneering virtual pipeline initiative currently, delivers gas to customers within a 100km radius.”

Osunsanya explained that in the medium term, the firm’s five critical flanks are to ensure gas supply security, develop virtual pipelines asset stability and gas processing infrastructure.

In the long term, he noted that OGP expects long term appropriate infrastructure financing, expansion of last mile distribution infrastructure with a particular focus on regional growth.

The post Oando divests interest in captive power plants appeared first on Vanguard News.

Vía Vanguard News http://ift.tt/2mDEmCP


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