…To Lift Power Generation By 561 MW
Yemisi Izuora
Seven Energy International Limited, says it has concluded agreement with regard to the long term Gas Sales Agreement for the supply of gas by Accugas Limited to the Calabar Nigerian Integrated Power Project, and work has commenced.
The Calabar GSA is supported by a World Bank Partial Risk Guarantee which has the backing of the Federal Government of Nigeria, is a financial instrument that will secure the supply of up to 131 million cubic feet per day, MMcfpd, of natural gas under the Calabar GSA, thereby enabling the consistent generation of up to 561 MW of electricity to the national grid, representing around 15 per cent of current power generation in Nigeria.
This arrangement, which guarantees payments to Accugas for gas supply, is backed by the Federal Government of Nigeria and the InternationalDevelopment Agency of the World Bank. It is the first of its kind for gas supply in Nigeria and is a demonstration of the Federal Government’s commitment to increasing power supply in the country
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