WAGL Energy Limited, a joint venture between the Nigerian National Petroleum Company (NNPC) Limited and Sahara Group, has announced a significant expansion of its fleet capacity, now surpassing 160,000 cubic meters.
In a post released on its official X (formerly Twitter) handle on Monday, NNPCL said the fleet expansion strengthens WAGL Energy’s position as one of the leading suppliers of Liquefied Petroleum Gas (LPG) on the continent.
The move, it added, is consistent with the company’s vision of ensuring sustainable and affordable energy solutions for homes, businesses, and industries.
“WAGL Energy Limited, a joint venture between the Nigerian National Petroleum Company (NNPC) Limited and the Sahara Group, now boasts a robust fleet exceeding 160,000 cubic meters. WAGL Energy Limited is driving Africa’s access to reliable and clean energy through sustainable LPG supply, extending its impact across the continent and beyond,” NNPCL said in a statement on X.
Back story
In July 2024, NNPCL secured a maintenance agreement with WAGL Energy for a major Nigerian crude oil terminal located in Delta State.
According to NNPCL, Nigerian Pipelines and Storage Company Limited (NPSC), a downstream subsidiary of NNPC, signed an agreement with WAGL for the provision of Operation and Maintenance (O and M) Services to the Escravos Crude Oil Terminal Facility.
What you should know
In May 2022, NNPCL and Sahara Group took delivery of two 23,000 cubic meters (CBM) Liquefied Petroleum Gas (LPG) vessels at the Hyundai MIPO Shipyard, a manufacturer of mid-sized carriers, in Ulsan, South Korea.
Corporate communications head, Sahara Group Ltd, Bethel Obioma, said the new vessels, MT BARUMK and MT SAPET, increased NNPC and Sahara Group’s joint venture (JV) investment to over $300million — approaching their $1 billion gas infrastructure commitment by 2026.
- The initiatives — the LPG Penetration Framework and LPG Expansion Plan — are geared toward encouraging the use of gas in households, power generation, auto-gas, and industrial applications to attain 5 million metric tonnes of LPG consumption by 2025.
- WAGL Energy Limited, the JV company between NNPC and Oceanbed (a Sahara Group Company), is driving NNPC’s five-year $1 billion investment plan to accelerate the decade of gas and energy transition agenda over the period.
- West African Gas was incorporated in March 2013 as a joint venture company. It was formed by the Nigerian National Petroleum Corporation LNG Ltd, a wholly-owned subsidiary of the Nigerian National Petroleum Corporation (NNPC), and Ocean Bed Trading Ltd, an established oil and gas trading company.
The primary purpose of the company is to serve as a vehicle for the offtake, marketing, and trading of NLNG NGLs under the equity lifting scheme.
This strategic focus allows the company to efficiently manage and market natural gas liquids. West African Gas leverages the long-term NGLs trading experience and expertise of its joint venture partners, particularly Ocean Bed Trading Ltd.
