The Nigerian National Petroleum Corporation (NNPC), Seplat Petroleum Plc and several others have partnered and secured a $260,000,000 funding for the ANOH Gas Processing Company (AGPC) project.
According to a statement released by NNPC Twitter handle @NNPCgroup the event held in Abuja where the partnership was between them and a consortium of seven banks.
PHOTO NEWS:
Images from the successful closing of the US$260m funding agreement between partners of the ANOH Gas Processing Company Limited (AGPC) – @NNPCgroup and @seplatpetroleum – and a consortium of seven banks, held in Abuja, yesterday .#DecadeOfGas #TAPE pic.twitter.com/Tt3EUJDsaS
— NNPC Group (@NNPCgroup) February 2, 2021
Yusuf Usman, Chairman of AGPC said that this financing agreement is expected to significantly contribute to the realization of the federal government’s initiatives towards increasing natural gas utilization in the domestic market and uphold the #DecadeOfGas mission and vision for the future of the petroleum industry.
“With the equity of $420m already injected by the sponsors of the Project (NNPC & Seplat) both Shareholders reinforce their commitment to expanding gas infrastructure in Nigeria & progressing towards making natural gas the future energy for Nigeria.”
Mr Roger Brown the CEO of Seplat Petroleum stated that “Completing the funding is an important milestone for AGPC. The ANOH development project is one of the Nigerian government’s 7 Critical #Gas Development projects & our involvement provides a clear path towards strengthening the industry.
As Nigeria’s leading indigenous diversified energy producer, It will help us drive, alongside our government partners, Nigeria’s transition to cleaner, less expensive power generation. We are extremely proud to partner with the Nigerian Gas Company in this strategically important project, which will create jobs and prosperity Nigeria.
Seplat will continue to diversify its business and invest in gas to help Nigeria develop its own natural resources, which in turn will drive more sustainable social and economic growth for a young, rapidly growing population.”
Suzan O
