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African Capital Alliance invests in gas utilities company

By on July 22, 2014

The African Capital Alliance (ACA), an investment firm, has announced its investment in Gas Train Limited, a gas infrastructure development platform operating in Nigeria.

This investment which would ease gas flaring in Nigeria was announced on the firm’s website recently.

With ACA’s investment, it has successfully acquired a 30 million standard cubic feet (scf) per day gas processing plant (the Egbaoma plant) located in Niger Delta region which it plans to refurbish, optimise and ultimately expand the plant.

According to a statement, the firm expects that the plant would process currently flared associated gas from the Asuokpu/Umutu field, which is estimated to contain 1P gas reserves of over 150 billion cubic feet (bcf).

The Vice-President Investment Officer, Energy, Mr. Dabo Horsfall said: “The deal execution lead from ACA, the Egbaoma project offers an investment opportunity to save the environment while also targeting attractive returns.

“The gas midstream space is also central to ACA’s overall power and oil & gas strategy and ACA’s investment in Gas Train will help grow Nigeria’s power and industrial sectors.”

Speaking further on the investment, founder and Chairman of the Owel-Linkso Group, Charles Osezua said: “The acquisition of the Egbaoma plant is a first step and is core to our strategy as a developer, investor and operator of gas infrastructure projects in Nigeria. We are excited to partner with African Capital Alliance and look forward to achieving the objectives of Gas Train for the benefit of our organisations and indeed for the Nation.”

 

[This Day]