NPDC, Seplat JV Earmark $200m For Azura IPP

The Nigerian Petroleum Development Company (NPDC) and Seplat Joint Ventures will be investing $200 million in Azura-Edo Independent Power Producer (IPP)) to deliver gas infrastructure.

The minister of petroleum resources, Mrs Diezani Alison Madueke, who disclosed this, said, “The Nigerian Gas Company would be providing gas transportation to the power plant using the 50 kilo meter (km) stretch of the Escravos Lagos Pipeline Spectrum.”

According to the minister, the Azura-Edo power plant gas transaction is a pioneer in the two-tier gas pricing arrangement as proposed in the gas master plan which envisions a willing buyer-willing seller pricing.

She said that the Azura and Seplat exemplified the success stories of this administration in the power and oil and gas sectors.

The minister was commenting on gas supply to the upcoming Azura-Edo Power plant in Ihovbor/Orior Osemwende communities near Benin City which foundation laying ceremony was performed by President Goodluck Jonathan. She maintained that 450 mega watts (mw) IPP would be supplied with 120mmscuf/per day through the Nigerian Petroleum Development Company (NPDC) and the Seplat Petroleum Development Company Plc joint venture from its new gas processing facilities at the Oben Gas Plant.

The minister, who recently announced the N213 billion inter-agency initiative to facilitate the liquidation of legacy gas debts in the power sector, stated that the NNPC alongside its joint venture partners were determined to surpass its mandate of providing the required fuel gas as well as gas infrastructure for the smooth operation of power plants in the country.

Source : Leadership

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