Addressing stockbrokers at the “Facts Behind the Project” held in Lagos at the weekend, the Managing Director of the company, Austin Avuru, said that the government has already paid $150 million out of the estimated $210 million.
He pointed out that the project when completed, would enable the company to produce 800 million gas per day, which would ultimately account for 40 percent of total domestic gas production in Nigeria. Furthermore, he added that one would be operated by Shell as a conventional joint venture concept while the other would be developed by under Seplat JV which would be functioning as a sole midstream entity.
“The attention to displace diesel-generated power with gas will save the consumer and the economy a lot of money and that is the huge potentials we saw in has production and we are in the front of the business,” he added. The Managing Director of AGPC, Yetunde Taiwo, said ANOH or AGPC will build a 300 million plant which would be on a commercial construct of buying wet gas from the upstream as well as managed and operated by a shell.