Seplat Plc, a prominent Nigerian independent energy company, has disclosed plans to erect a new $250 million gas plant in Sapele, Delta State. The company’s Director of New Energy, Effiong Okon, made this revelation during the Nigeria Oil and Gas Outlook event in Lagos.
The event, under the banner “Investing in Nigeria’s Energy Future,” provided a stage for Effiong to articulate Seplat’s strategic blueprint for shaping the energy sector. This announcement arrives at a pivotal moment when investor interest in the energy sector is surging, with substantial capital inflows anticipated in Africa’s largest economy.
Nigeria, boasting the continent’s largest natural gas reserves, has witnessed a marked uptick in exports over the past two decades. This aligns seamlessly with the global market trajectory, which is increasingly pivoting towards energy-centric ventures, with Africa poised as a significant player in this arena.
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During a panel discussion centred on the secure transition towards gas, Effiong underscored Seplat’s commitment, stating, “We are also starting a brand-new plant in Sapele, the Sapele gas plant—another $250 million investment that will deliver a lot of LPGs to the market.”
Effiong also offered a glimpse into the company’s timeline, announcing that Seplat’s joint venture gas processing facility in Imo State is slated for completion by December, with commissioning earmarked for January 2024.
Addressing the broader investment landscape, Effiong emphasised the instrumental role of the private sector in propelling investments in the oil and gas sector. He underscored the critical need for government support through conducive policies and a secure environment to catalyse sustainable growth and development in the industry.