Obama Gas Flare Commercialization Project.
- Alphaden Energy & Oilfield Limited (“Alphaden Energy”), through its subsidiary; Alphaden Gas Limited (“Alphaden Gas”), is currently developing a 20mmscfd Mini-LNG gas project at the Obama Flow Station flare point in Akakumama community of Bayelsa State, Nigeria, which was originally awarded to Alphaden Energy.
- Alphaden Energy executed a 10-year gas supply and purchase agreement GSPA for up to 20mmscfd associated gas from the Obama Flowstation in OML 63 with the Nigerian Agip Oil Company Joint Venture (NAOC JV) which is comprised of NAOC, Nigeria Petroleum Development Company Limited (NPDC) and Oando Oil Limited.
- Alphaden Energy has secured the financing required for the execution of the project, and is now working closely with FSDH Capital Ltd, the Lead Advisor/Lead Arranger towards achieving the financial close.
- Alphaden Gas plans to take FID by 29th October 2021, and deliver the project within a year.
- The project has a scheduled first gas date of October 2022, Alphaden Gas’s distribution model entails the direct sale of natural gas to customers. The company will install gas storage facilities and regasification kits at customers’ designated locations.