Nigerian energy solutions provide, Oando, is planning to build a $350 million gas plant in the country.
According to Bolaji Osunsanya, Managing Director of Oando Gas and Power, the company is focusing on integrating gas production with its supply business.
The plant is expected to be able to process 300 million standard cubit feet a day (scfd), and will take 24 months to complete.
He added that the plant will cost from $300 million to $350 million, Nairametrics reports.
According to Osunsanya, Nigeria had room to ramp up gas plants as current capacity was around 2 billion scfd, adding that its project was at the development stage to be launched in the first quarter.
Osunsanya estimated Nigeria will need around $55 billion over the next seven years to develop gas infrastructure to meet growing demand, which would include building new pipelines, processing plants and drilling of new wells. He estimated demand at 5 billion scfd, of which 3.5 billion was needed for power and the rest for other uses