Gas Marketing, Processing and Distribution. Company Profile

Transcription

1 Gas Marketing, Processing and Distribution Company Profile

2 Accugas Company Profile About Accugas Accugas is a gas marketing, processing and distribution business in Nigeria, focused on supplying gas to the domestic market through the creation of gas gathering networks and the development of a gas distribution infrastructure. Accugas (part of the Seven Energy Group) owns midstream and distribution infrastructure assets in the Niger Delta and supports upstream activities by enabling oil and gas companies to monetise production from their gas assets. Accugas works with upstream partners to secure the supply of processed and unprocessed gas and with downstream off-takers to which processed gas is sold. Accugas has a number of ongoing infrastructure projects in progress, including a gas processing hub at the Uquo field and a pipeline grid which will have the capability to supply gas across the south-east Niger Delta from Port Harcourt in the West to Calabar in the East.

3 Opportunity Nigeria is one of the fastest developing countries in Africa with Gross Domestic Product (GDP) growth rate averaging 6.8% per annum and enormous resource potential with around 187 Tcf of proven natural gas reserves 1. These vast reserves are largely undeveloped due to regulatory, infrastructure and financial constraints and with a growing population of 162 million the country suffers from chronic power shortages. Its installed power generating capacity is only 7.3 gigawatt (GW) and it operates at less than 50% capacity due to gas supply shortages. The demand for natural gas in Nigeria is predicted to treble over the next 10 years, which will see a number of power plants coming onstream and increased investment in infrastructure development to address the challenges of gas supply. Accugas is working with Akwa Ibom State to assist in the creation of an autonomous selfsufficient managed supply of gas in the south-east Niger Delta. The result will be a local network for gas processing and transportation in the region capable of delivering over 1 Tcf of gas reserves. 1 - BP Statistical Review (June 2012)

4 Assets and Operations The Accugas business model has two components: to process and distribute gas from the upstream activities of its affiliates, currently comprising the Uquo and Stubb Creek fields; to process, distribute and market gas for upstream partners and third parties. Accugas currently has two long-term take-or-pay gas sales agreements in place to sell over 1 Tcf of gas: a 10-year contract to supply 43.5 MMcfpd to Ibom Power, and a 20-year contract to supply 131 MMcfpd to the federally-owned power plant at Calabar. Accugas owns a gas plant at Ekid for treating and processing gas from the Uquo and Stubb Creek fields. The processing facility comprises two trains: Train 1, completed in 2012, has the capacity to process 100 MMcfpd. Train 2, due for completion in 2013, will double the processing capacity to supply the 560 MW Calabar Electricity Generation Company power plant which is currently completing construction. The first leg of the distribution infrastructure, a 60 km 18-inch pipeline from Uquo to Ikot Abasi to deliver gas to the 190 MW Ibom Power Plant, was completed in This pipeline has transportation capacity of over 200 MMcfpd and was commissioned in Q An additional 37 km 24-inch pipeline from Uquo to Oron is under construction to supply gas to the 560 MW Calabar Power Plant. With spare capacity built in to its processing and distribution infrastructure, Accugas is capable of providing a long-term supply of gas for power generation and lower cost fuel for local industry. This is leading to an influx of inward investment opportunities for gas-based enterprises in the south-east Niger Delta and Accugas is working closely with those partners to help them realise their projects.

5 Contact us Accugas is a wholly owned subsidiary of Seven Energy International Limited 7b Anifowose Street 4th Floor, 6 Chesterfield Gardens Victoria Island London, W1J 5BQ Lagos, Nigeria United Kingdom Tel Fax info@sevenenergy.com

6 Accugas is a wholly owned subsidiary of Seven Energy and an affiliate of Septa Energy, the indigenous Nigerian oil and gas production and development company.