BUA, Axxela sign deal to build 700-ton-per-day LNG

BUA Group has signed an agreement with CIMC ENRIC, a global leader in the energy equipment industry, in partnership with Axxela, to establish a 700-ton-per-day mini Liquefied Natural Gas (LNG) project in Nigeria.

The agreement was signed at the BUA Group headquarters in Lagos on Monday, December 18, 2023.

The company said the agreement was a significant milestone in BUA Group’s expansion into the energy sector, adding that it reaffirmed BUA’s commitment to sustainable energy solutions across its business operations.

Speaking on the agreement, the Chairman of BUA Group, Abdul Samad Rabiu, said the company remains dedicated to utilising cleaner and energy-efficient sources for its operations across Nigeria in line with its short to long-term ESG commitments and sustainability initiatives.

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Rabiu stated that while BUA already utilises gas as a major energy source across its over 1,000MW power plants for its operations across Nigeria, the mini LNG project upon completion, will enhance the all-year availability of cleaner energy and support BUA Group’s growing industrial power demands.

“We are excited about the prospects of this project and look forward to a fruitful collaboration with CIMC ENRIC and Axxela,” he added.

The company further noted: “The agreement was signed by management representatives of BUA Group, CMIC ENRIC and Axxela Group, underscoring the project’s anticipated impact on the regional energy landscape in line with the Nigerian Government’s push to diversify its energy commitments.

“BUA Group remains committed to investing in cutting-edge technology and infrastructure that benefits, not only its operations, but also the communities it serves.”

The Star