*Eyes more vessels*
Energy conglomerate – the Sahara Group through its downstream arm, Asharami Synergy Limited, is currently investing massively in storage facilities for liquefied petroleum gas (LPG) in alignment with the global energy transition which is gradually moving from fossil fuels to renewables and cleaner energies.
The Head, Sahara Downstream Business, Foluso Sobanjo, told The Business Intelligence Africa (TBI Africa) that the energy company is currently building 20,000 metric tonnes (MT) LPG storage facilities which will be completed before end of 2024.
Besides, he noted that in its drive to play in the gas value chain, Sahara Group is also investing in LPG vessels which may be fully acquired before end of this month. This is in addition to existing two vessels the company uses to move LPG around the world.
Sobanjo said: “In LPG business, we are investing massively in storage facilities not only in Nigeria but in Cote d’Ivoire. In Cote d’Ivoire, we are building 8000 metric tonnes capacity. In Nigeria, the plan is to, before the end of 2024, build 12000 metric tonnes capacity storage facility.
“We have acquired the land and in process of developing it. In addition to that, the Sahara Group, to ensure we are in the value chain, we have two vessels that we use to move LPG around the world.
“We are also investing in additional vessel capacity some of which will come on stream by end of June. We have invested in at least two more of those LPG carriers which will help us around our West African business.”
Just last month the Nigerian National Petroleum Company Limited (NNPC) and Sahara Group took delivery of two 23,000 cubic metres (CBM) of Liquefied Petroleum Gas (LPG) vessels at the Hyundai MIPO Shipyard in Ulsan, South Korea, with plans to add 10 vessels in 10 years to enhance Africa’s transition to cleaner fuels.
The new vessels, MT BARUMK and MT SAPET thus increased the NNPC and Sahara Group’s joint venture investment to over $300million, approaching the JV’s $1billion gas infrastructure commitment by 2026. The fleet previously comprised MT Sahara Gas and MT Africa Gas. All four vessels were built by Hyundai MIPO Dockyard, a foremost global manufacturer of mid-sized carriers.
Last year, WAGL Energy Limited, the JV Company between NNPC and Oceanbed (a Sahara Group Company) said it was driving NNPC’s five-year $1 billion investment plan to accelerate the decade of the Gas and Energy transition agenda.
WAGL is shoring up its gas fleet and terminal infrastructure, while Sahara Group continues to make remarkable progress in the construction of over 120,000 metric tonnes of storage facilities in 11 African countries including Nigeria, Senegal, Ghana, Cote d’Ivoire, Tanzania, and Zambia whose process has commenced and five others in the preliminary stage.
