Asiko Energy starts construction of project to increase LPG accessibility

L-R: Sojirin Oluwole, Project Manager, ILF Engineers Nigeria; Abubakar Folami, COO, Asiko Energy, Busayo Fabunmi, GM Operations, Asiko Energy, Fadi Aboul-Hosn, MD, AYF Development; Felix Ekundayo, MD, Asiko Energy; Oshodi Abiodun, MD, ILF Engineers Nigeria; Igbokwe Uwaezuoke, HSE Head, Asiko Energy

Asiko Energy, one of Nigeria’s leading Power and Gas distribution companies, has formally commenced construction of its latest project to increase the accessibility of Liquefied Petroleum Gas (LPG) by Nigerians.

The ground-breaking ceremony of the dual-liquefied gas storage terminal located in Ijora, Lagos State, took place on December 13, 2021, and on completion, the facility will house 5000 metric tonnes of Propane/LPG storage and a 30 million-litre LNG storage tank.

The terminal under construction, when complete, will be the country’s first dual liquified gas fuel terminal, with the ability to receive, store and distribute both LPG and LNG.

Speaking at the ceremony, Felix Ekundayo, Managing Director, Asiko Energy, stated that the project “is the culmination of several years of dedication and hard work by our Company. As we commence the construction of our propane/LPG terminal, we are also laying the foundation for a co-located LNG terminal consisting of a full containment tank making this the first land-based LNG receiving terminal in Africa.”

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Ekundayo went on to thank the Board of Directors of Asiko Energy, shareholders, colleagues, financiers, and supply partner of 15 years and counting, the Nigeria LNG (NLNG) Limited. The facility’s construction is being undertaken by OPTECH Engineering PVT. Ltd. of India as the EPC contractors and supervised by ILF Engineers Nigeria Limited as the project management company (PMC). Cozym Process Systems (pipeline) and AYF Development Limited (Civils) are also contractors involved in this project.

Asiko Energy, which began operations fifteen years ago, first commenced operations under the DLPG (domestic LPG) distribution initiative and subsequently went on to pioneer captive power solutions for commercial and industrial applications (using LPG). The company’s vision has always been to become the ultimate gas and clean energy provider in Nigeria.

The company has made numerous investments in the development of LPG infrastructure in Nigeria and has multiple LPG depots across the country as well as a fleet of LPG distribution trucks.

Asiko recently signed a contract with the NLNG for the domestic distribution of LNG, making Asiko the only company to be involved with both the domestic LPG and domestic LNG distribution in Nigeria.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.