Sahara Group to Invest $1bn in Cooking Gas Vessels, Terminals in Nigeria, Others in Five Years

14 Oct Sahara Group to Invest $1bn in Cooking Gas Vessels, Terminals in Nigeria, Others in Five Years

The Sahara Group  has said it would invest over $1billion to enhance access to Liquefied Petroleum Gas (LPG) in Nigeria and some other Africa countries and emerging economies through its subsidiary, WAGL Energy Limited.

The group explained that the move was part of the ways it wants to boost energy transition on the continent.

The Executive Director, Sahara Group, Mr. Temitope Shonubi, disclosed this in South Africa, at the African Refiners and Distribution Association (ARDA) conference 2021, where he spoke on the role of LPG in Africa’s Energy Transition.

“Sahara, through its subsidiary, WAGL Energy Limited is already working towards investing $1 billion to ramp up its LPG fleet and terminal infrastructure over the next five years. In addition to the vessel fleet, Sahara is in the process of building over 120,000 metric tonnes of LPG storage in eleven countries,” a statement quoted him to have said.

According to him, the countries earmarked for the storage tanks which include Nigeria, Senegal, Ghana, Cote d’Ivoire, Tanzania and Zambia, whose process has commenced and five others in the preliminary stage

Shonubi said Sahara continues to lead efforts geared towards seamless energy transition in Africa through innovative energy solutions via its upstream, midstream, downstream and downstream power businesses including partnerships with the United Nations Development Programme (UNDP) and other leading organisations.

He noted that Africa had become reliant on imports to meet its LPG demand as a result of low crude oil refining capacity and absence of adequate wet gas being processed