Friday, September 2, 2011

Akwa Ibom announces completion of $33 million gas pipeline project

The Akwa Ibom government in Nigeria has announced the completion of the $33 million gas pipeline project executed in partnership with Septa Energy and targeted at boosting power generation and allied industrial ventures in the state.

While the total cost of the project is estimated at N500 million, the state government invested a total of $33 million for the purchase of the gas to be produced to kick start the investment, while it also spent a total of N800 million for the payment of compensation to landowners along the pipeline corridors from Esit Eket to Ikot Abasi, the industrial hub of the state.

According to the deputy governor, Nsima Ekere, who made this known recently, gas would also be supplied to the Aluminium Smelter Company of Nigeria (ALSCON) currently run by Rusal, a Russian firm.

Ekere, who spoke on behalf of his boss, Governor Godswill Akpabio, restated the commitment of the state government towards the industrial development of the state, having laid a solid foundation by the provision of superior infrastructure needed to drive the process.

The state government had earlier signed a Memorandum of understanding (MoU) with Septa Energy as part of efforts to provide gas-starved companies in the state with the commodity without bottlenecks.

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