Falcon Corporation, ND Western & FHN Consortium partners with Lagos Free Zone

Lagos free Zone 26 AprilA consortium of Falcon Corporation, ND Western Midstream Limited & FHN Gas Limited, has been selected to build, own, and operate a naturalgas distribution infrastructure network within the Lagos Free Zone (LFZ)

The consortium parties signed a gas infrastructure development agreement with the Lagos Free Zone to formalise this engagement. The signing ceremony was held on Monday, 16 May 2022 at the corporate head office of LFZ in Victoria Island, Lagos.

At the event, Audrey Joe-Ezigbo, managing director, Optimera Energy, said, “The Optimera consortium is made up of like-minded shareholders passionate about a common goal: accelerating the further growth of domestic gas utilisation in Nigeria. Having reliable dedicated gas supply infrastructure installed in the LFZ adds tremendous value to existing industrial concerns and will increase the zone’s attractiveness to future customers.”

Ezigbo noted that the endeavour would be a big step towards actualising the objectives of the ‘Decade of Gas’ initiative, of which gas-based industrial growth is a significant part. “The Petroleum Industry Act (PIA) provides the necessary regulatory environment for projects such as these to succeed in Nigeria. We look forward to working collaboratively with the Nigerian Midstream & Downstream Regulatory Authority (NMDPRA) in this project’s development and operation phases,” commented  Joe-Ezigbo. 

“The Consortium members bring over 50 years of experience and expertise in operating across the natural gas value chain from upstream production in the Niger Delta to downstream distribution to industries in Lagos. Our dedicated project team will work diligently with a strict adherence to the highest standards of safety, operational excellence, and regulatory compliance to deliver this project on time and under budget, as we have done within our respective portfolios.”

The managing director & CEO of LFZ, Dinesh Rathi, during his interaction with the press, remarked, “In our continued efforts at Lagos Free Zone to provide a world-class industrial ecosystem that enhances the competitive positioning of Nigeria as a manufacturing hub, our partnership with the consortium of Falcon Corporation, ND Western Midstream Limited & FHN Gas Limited, is a landmark development.

With Lekki Port’s construction slated to be completed in December 2022, we needed to secure a reliable arrangement to meet the energy needs of our fast-growing tenant base, and we are confident that our partnership with the consortium would help us realise the same. This is a unique transaction in the history of Nigeria’s downstream sector wherein a consortium formed of reputable upstream, midstream, and downstream companies have come together to ensure gas supply to LFZ.”

 

 

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