First Gas Sales to TransAfam Power Limited

Source: www.gulfoilandgas.com 6/28/2022, Location: Africa

Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that Accugas Limited ("Accugas"), the Company's 80% indirectly owned subsidiary, has commenced gas sales to TransAfam Power Limited ("TAPL") in relation to the provision of gas for use at its power plants in Rivers State, Nigeria.

As previously announced on 6 June 2022, Savannah signed an interruptible gas sales agreement (“GSA”) with TAPL to supply up to 35 MMscfpd daily for an initial three-month period, with the option to extend for a mutually agreed period. The plant is connected to the Accugas network via the Nigerian Gas Company pipeline from Ikot Abasi.

Andrew Knott, CEO of Savannah Energy, said:
"I am delighted to report we have already begun first gas sales to TAPL, having signed an agreement at the beginning of this month. This will be the third customer we have commenced new gas supply to in the past month. We have now signed and operationalized GSAs with power plants comprising around 24% of the country’s thermal generation capacity (up from 14% at the same time last year) demonstrating our dedication to the Nigerian industry and being the energy partner of choice."

Vincent Ozoude, MD/CEO of TransAfam Power Limited also commented:
“We are pleased that the gas supply from Accugas Limited to our plant has commenced. This, as earlier mentioned, will support in boosting our plant capacity recovery programme and improving power generation to the country.”

Speaking on the development, The President, Transcorp Group; Mrs Owen Omogiafo said:
“The commencement of the gas supply by Accugas Limited to our subsidiary TransAfam is in line with our strategic intent of increasing power generation in Nigeria, noting the role of energy in the nation's development. We remain committed to optimizing our installed capacities across our various plants, as leaders in the sector.”


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