Sahara Group Limited, a global energy conglomerate, has revealed that it is set to invest at least $1 billion in the production of Liquefied Petroleum Gas, popularly called cooking gas.
It disclosed this during a learning session organised by the company for energy editors in Abuja, where it explained that the firm was also investing in the production of Compressed Natural Gas.
Ejiro Gray, Director, Governance and Sustainability, Sahara Group, said the oil giant was increasing its vessels to boost the supply of gas in Nigeria and across Africa.
“For LPG in particular, we are doing a lot of that. We have a five-year plan to invest at least $1bn in LPG and how are we going to do that? , it is by building the logistics infrastructure.
She said the firm was already working on a storage plant in Cote D’Ivoire that would boost internal supply, “and also to neighbouring landlocked countries around the region. We are also doing that in Nigeria, also to boost supply.”
“Unless you just want to do trucking and by the time you do, the cost is high because the truck will probably move on diesel and all of that. Unless you are able to get one that is engineered to move on to CNG.
“Yesterday I read somewhere that gas marketers are saying that by December, the price of a 12kg cylinder may go up to N25,000 what did they cite as issues? Things like the transportation, infrastructure network, etc. The cost of transportation is what is adding to the overhead.“