"We Are Optimistic": Companies Launch Natural Gas Pipeline in Nigeria
- A 5 km natural gas pipeline network connecting Eko Atlantic City in Lagos, Victoria Island, has been officially inaugurated
- Axxela and NGML are responsible for this significant advancement in the ongoing 72.5 kilometer pipeline infrastructure project
- Customers from Five Cowrie River will be connected by the project via the Army Officers' Mess in Bonny Camp
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market
Axxela Limited and NGML have inaugurated a 5km natural gas pipeline network that links Eko Atlantic City in Lagos on Victoria Island.
Source: Getty Images
Natural gas is a gaseous mixture of hydrocarbons, mostly methane, that is used as fuel for heating, cooking, and the production of electricity. It is found in natural reservoirs.
Vanguard reported that this major development in the current 72.5km pipeline infrastructure project by Axxela and NGML, which will connect Victoria Island to the city of Lekki, is noteworthy.
The project will connect customers from Five Cowrie River by Army Officers’ Mess in Bonny Camp to the projected Lekki International Airport by a newly commissioned 5km pipeline network that runs from Outer Marina to Kuramo Beach.
The commissioning of this ambitious 72.5km pipeline network, according to Axxela's Chief Operating Officer Kehinde Alabi, highlights the company's commitment to growing the natural gas infrastructure in the Greater Lagos Area.
He said,
"By connecting Eko Atlantic City to first gas, as a pioneer customer on this axis, we are paving the way for more access to the natural gas advantage; providing reliable energy solutions that can aid economic development. For us at Axxela, we are not only fueling businesses, but we are enabling the development of self-sustaining clusters, whilst strengthening Nigeria’s socio-economic growth”.
Also speaking, Justin Ezeala, Managing Director, NNPC Gas Marketing Limited (NGML),
“Over the past two decades, NGML and Axxela have been renowned for their pioneering efforts and immense contribution to natural gas advocacy, this expansion project is a further reaffirmation of our partnership and dedication to natural gas infrastructure development across Nigeria and Africa.
We are optimistic that advancing the natural gas pipeline network to the highly commercial Victoria Island and the rapidly developing Lekki area is a step in the right direction”.
Scarcity of Cooking Gas Hits
Legit.ng reported that despite improved foreign exchange supplies, Nigerian importers say they face acute FX for importing and supplying liquified natural gas (LPG), also known as cooking gas.
Poor access to Forex and the scarcity of vessels to carry LPG to the country hinder the move to meet Nigeria’s domestic gas supply of one million tonnes valued at N1.2 trillion.
Findings show that the development could lead to an increase in cooking gas prices in the coming months despite the removal of import duties by the Nigerian government.
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Source: Legit.ng
