• Wednesday, April 24, 2024
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BusinessDay

Gasco Marine inaugurates N2bn gas plant to supply Ogun, Lagos, Oyo 

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Going by the increasing localization and location of manufacturing industries and power plants in some Southwest states,  coupled with the challenge created in the industry with the dearth of energy, Gasco Marine Limited, a subsidiary of Viathan Engineering Limited, has inaugurated N2 billion compressed natural gas plant in Abeokuta where it is expected to supply Ogun, Lagos and Oyo states.
Gasco Marine Limited entered Nigeria’s midstream and downstream gas value -chain to increase the supplies of much – needed natural gas to the manufacturing industries and the independently – owned power plants, especially in Southwest, to improve on gas supplies and broaden competition among the producers and suppliers of natural gas in the country.
BusinessDay reports that Gasco Marine joins producers and suppliers of natural gas in the country to establish a better and more effective distribution network for the supplies of gas to manufacturing industries and power plants in the three Southwest states in addition to the already – established market created by six power plants operated by its sister energy company – Viathan Engineering Limited, in Abeokuta, Akute and Lagos.
Speaking at the inauguration of the N2 billion CNG plant located in Abeokuta by the immediate past Minister of Works, Power and Housing, Babatunde Fashola, Bukola Badejo-Okusanya, Managing Director, Genco Marine Limited, noted that the inauguration of the CNG would redefine compression and distribution of natural gas in Nigeria’s midstream and downstream gas value chain.
He said, “Our company – Gasco Marine Limited is a fully integrated indigenous gas company that specialises in the processing, transport, storage and sales of natural gas in Nigeria.
“Over the last five years, we have quickly evolved our operations and servicing capacity and we have grown our market share to almost 13%. Our processing and distribution infrastructure can deliver gas to power stations and other industries in Ogun, Oyo and Lagos states in an effective and efficient manner.
“Gasco Marine aims to become the industry benchmark for quality and affordable service – delivery and reliability in the sale and distribution of CNG and other gases in Nigeria, thus becoming a partner, uniquely positioned to be able to guarantee supply assurance.”
But, Babatunde Raji Fashola, immediate past Minister of Works, Power and Housing, while cutting the tape to inaugurate the CNG plant in Abeokuta, urged Nigerians to devise means by which the country could be better off in terms of economic, political and social contributions instead of annoying and fruitless discussions and complaints that take the country no where.
He said with the likes of Gasco Marine Limited which is populated by young and vibrant Nigerians that are thinking about how the nation could be much better off at all times, Nigeria stands a chance to a better country but all hands must be on deck to change the narrative for better
“We can talk about climate change and how we need to convert bad fuel, coal, diesel into cleaner but it won’t go away by just talking. This group (Gasco Marine) has done something about that again by making sure there is cleaner fuel, there is cleaner source of fuel to use.
He said, “We talk about lack of money to do business, a group of people have said no, we can access pension fund to do infrastructure, this project has delivered that again, so when we talk about ease of doing business everybody has a role to play. We can’t talk this into existence, you have to work it into existence.
“To give message of commendation to the Gasco,viathan, infracredit and to all of the people who were behind putting these project together and why is this important? There is a lot of conversation going on in our country but I don’t see the conversation about what is not happening, about the providence.
” I think by committing to producing and deploying more gas, Gasco and Viathan help Nigeria to protect the environment for the next generation, they have also  helped to do so by contributing to our initiative as a country to reduce and ultimately, eliminate gas flaring from our country and I am happy to be part of the solution initiative.
” Secondly, it addresses the local and global concerns about employment, when I was invited here, the first question I asked was how many people have been employed during the building period? because what this is all about is to restore people’s dignity at the end of the day.”
RAZAQ AYINLA, Abeokuta