Connect with us

Business

Tetracore Advances Natural Gas Monetization in Nigeria with Compressed Natural Gas (CNG) Commissioning, Liquefied Natural Gas (LNG) Ground Breaking

Published

on

Tetracore’s commissioning of its CNG facility and launch of a modular LNG project in Nigeria marks a critical step towards bolstering energy accessibility and sustainability in the region
Integrated energy solutions provider Tetracore has commissioned phase one of its Compressed Natural Gas (CNG) facility in Nigeria – representing a significant step towards strengthening the country’s natural gas distribution infrastructure. The company has also broken ground on the construction of a modular Liquefied Natural Gas (LNG) facility, which is poised to not only diversify Tetracore’s oil and gas portfolio but advance monetization in the gas-rich nation.

As the voice of the African energy sector and a strong advocate for natural gas development in Africa, the African Energy Chamber (AEC) commends both of these achievements, recognizing the role facilities such as these will play in making energy poverty history in Africa. Tetracore – led by Managing Director Olakunle Williams – continues to make great strides towards promoting industrialization and electrification in Africa through the development of natural gas. The commissioning comes ahead of the African Energy Week (AEW): Invest in African Energy conference this November (4-8), which provides a platform for deals to be signed and African energy projects advanced. 

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

The development of Tetracore’s CNG facility – with a capacity of 3.1 million standard cubic feet per day (MMscf/d) – falls in line with the Nigerian government’s Decade of Gas initiative, which promotes the role of gas as a catalyst for industrial growth. Located on the Benin-Sagamu Express Road in Ogun State, the CNG facility aims to bolster gas availability along Nigeria’s Western-Southern corridor, which houses some of the country’s largest industrial clusters. Tetracore has plans to double the project’s capacity to 6.2 MMscf/d in the future, ensuring demand continues to be met as industrialization advances in Nigeria.

Additionally, Tetracore’s CNG plant is near the Nigerian National Petroleum Corporation’s Gas Marketing Limited (NGML) connection point, which connects to the Escravos-Lagos Pipeline – the main gas transmission pipeline between the Niger Delta and the commercial capital of Nigeria, Lagos. This prime location ensures reliable pressure for effective and efficient CNG production and distribution, reaching both western and southern markets. Tetracore has also equipped the facility with advanced compression technology featuring an inbuilt fire suppressant system, ensuring safety and optimal performance, and the facility boasts an energy conversion efficiency rate of over 90%. As such, the project is expected to play a crucial role in enhancing local energy accessibility and providing a cleaner alternative to traditional energy sources. By utilizing CNG, the company aims to reduce carbon emissions and contribute to a more sustainable energy landscape in Africa.

In addition to the CNG facility, Tetracore has also broken ground on a modular LNG facility. The planned 10 MMscf/d LNG facility will diversify the company’s energy offerings and contribute to Nigeria’s energy independence. Designed to efficiently produce and distribute LNG in Nigeria, the LNG facility provides an environmentally-friendly energy source for the country. This will be particularly instrumental for industries such as transportation and power generation. Additionally, the modular nature of the facility allows for scalable expansion, which will enable Tetracore to adapt to the growing energy needs of the region.

“Tetracore’s activities in Africa are part of a broader strategy to develop robust and sustainable energy solutions across the continent. The Chamber recognizes the importance of Tetracore’s projects in ensuring energy security and driving forward the energy transition in Africa, providing reliable and cleaner solutions,” states NJ Ayuk, Executive Chairman of the AEC.
Continue Reading

Business

FG Holds Stakeholders Engagement on Implementation of Revenue Assurance and Disbursement Solution

Published

on

 
Joel Ajayi

 In its avowed determination to ensure enhanced financial transparency,  accountability, and prudent revenue management, the Federal Government has conveyed a stakeholder engagement meeting in Abuja chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun on the Implementation of Revenue Assurance and Central Disbursement Solutions for Federal Government Ministries, Departments and Agencies (MDAS) as well as FG-Owned Enterprises.


The deployment of a central revenue system is designed to enhance financial transparency and accountability concerning direct payments to beneficiaries and the direct deduction of what is due to the Federal Government.


Once implemented, the Government Integrated Financial Management Information System (GIFMIS) and non-GIFMIS platforms will monitor revenue generation and provide a consolidated dashboard of the revenue situation for all Federal Government-owned enterprises.


Key stakeholders, including the SA to the President on Energy, the SA to the President on ICT, the Central Bank of Nigeria (CBN), the Office of the Accountant General of the Federation (OAGF), and the Nigeria Inter-Bank Settlement System (NIBSS) participated in the meeting.

Continue Reading

Trending

error

Enjoy this blog? Please spread the word :)