How a Port Harcourt firm quietly scored $100m LPG expansion deal

Windek Energy, a relatively low-profile Port Harcourt-based company, has secured a $100 million contractor financing deal with Cakasa Nigeria Limited to expand its liquefied petroleum gas (LPG) storage and distribution infrastructure, a landmark achievement for Nigeria’s energy sector.

The deal, which marks one of the largest private investments in Nigeria’s LPG sector, is set to significantly boost the country’s capacity to meet growing energy demands while promoting cleaner and more sustainable energy solutions.

Quiet rise of Windek Energy

Windek Energy, though not a household name, has been steadily making waves in Nigeria’s energy industry.

Founded in Port Harcourt, the heart of Nigeria’s oil and gas region, the company has built a reputation for innovation, reliability, and strategic foresight. Its latest achievement—a $100 million investment to expand its LPG storage facilities—underscores its growing influence in the sector.

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The deal, facilitated through a partnership with international investors, will enable Windek Energy to construct state-of-the-art LPG storage terminals and distribution networks. These facilities are expected to enhance the availability of LPG, commonly known as cooking gas, across Nigeria, particularly in underserved regions.

Addressing Nigeria’s Energy Challenges

Nigeria, despite being Africa’s largest oil producer, has long struggled with energy accessibility and affordability. Millions of households still rely on firewood and charcoal for cooking, contributing to deforestation and health issues caused by indoor air pollution. LPG, a cleaner and more efficient alternative, has been identified as a key solution to these challenges.

Windek Energy’s expansion project aligns with the federal government’s National Gas Expansion Program, which aims to deepen the use of LPG and other gas-based products. By increasing storage capacity and improving distribution networks, the company is poised to play a pivotal role in achieving this vision.

A Strategic Partnership

The $100 million deal will enable Windek Energy to construct a 20,000 metric tonne Liquefied Petroleum Gas storage facility at the Liberty Oil and Gas Free Zone, Atabrikang, Akwa Ibom State.

“This partnership with Cakasa is a game-changer for our expansion plans. The new facility will significantly enhance LPG storage and distribution, supporting both industrial and household energy needs across Nigeria,” Nosa Okunbo, managing director of Windek Energy said in a statement.

Also speaking on the partnership, Emmanuel Uwandu, the executive director of Windek Energy said LPG investments would secure the country’s energy future by creating economic opportunities.

“Investing in LPG infrastructure is key to ensuring Nigeria’s energy future. This facility will not only strengthen supply chains but also create economic opportunities in Akwa Ibom and beyond,” he stated.

On his part, Barnabas Olise, the managing director/chief executive officer of Cakasa Nigeria Limited said the partnership would ensure industrial growth for the state and Nigeria.

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Economic and Environmental Impact

The expansion project is expected to create thousands of direct and indirect jobs, from construction workers to logistics personnel, further boosting the local economy.

Additionally, the increased availability of LPG is anticipated to reduce the environmental and health hazards associated with traditional cooking methods, particularly in rural areas.