FG To Unveil Techno Oils LPG Terminal

Ipman Seeks Quick Resolution Of Fg Pengassan Dispute Nigeria News August 26 2022

The federal government's efforts to encourage job creation are beginning to bear fruit as Techno Lagos Oil Limited is set to open an automated liquefied petroleum gas (LPG) terminal that will create 2,000 jobs in Kirikiri, Apapa, Lagos.

The Minister of State for Petroleum, Mr. Timipre Silva, is expected to inaugurate the facilities on November 18.

Construction of the terminal, which will house 8,400 tons of gas, began in 2016.

The facility is the fifth terminal to be built in Lagos, Nigeria's economic hub and home to the country's leading oil and gas company.

Terminal Techno Oil is touted as a major investment in Nigeria's effort to develop its 187 trillion cubic feet of gas reserves, most of which are untapped.

Manufactured by CAKASA Nigeria Limited. In November 2016, it worked with foreign technical partners who signed a contract to build the terminal.

This program is financed by a consortium of banks. But the management of Techno Oil did not finance the project.

Techno Gas and Power Chief Executive Mr Collins Onyeama told reporters in Lagos yesterday that the plant will enhance the implementation of the federal government's LPG expansion project.

"This terminal will generate tax and duty revenue for all levels of government and, more importantly, create direct and indirect employment opportunities for Nigeria's more than 2,000 residents," he said.

Onyeama said the ship discharged product from the OSO-Butane Bonny terminal into the Mt. Pertusola Terminal river.

According to him, the facility will provide significant support to the government in its efforts to provide LPG infrastructure, which he says is currently inadequate in Nigeria.

The Director of the Presidency said that the investment will make a great contribution to reduce the growth of gas in the country.

He confirmed the start of the Techno Oil project to increase LPG consumption in Nigeria, which is currently estimated at 400,000 tons per year.

Techno Gas stated that the installation of the facility is another milestone for the company following the inauguration of the company's LPG production plant by Vice President Professor Yemi Osinbajo in June last year.

The CEO expressed his hope that the availability of cooking gas would discourage Nigerians from using firewood, kerosene and other fossil fuels for cooking.

Nigeria has more than 170 million people, but the country has less than a million households that use gas for cooking.

According to him, among sub-Saharan African countries, Nigeria consumes 1.1 kg of LPG per capita.

Techno Oil founded ISO Blended Lubricants 21 years ago as a downstream marketing company before expanding into other oil and gas fields.

DPR is ready to license additional modular refineries.