Rainoil builds 8000mt LPG facility

Fri, Aug 14, 2020
By editor
3 MIN READ

Energy Briefs

RAINOIL Limited has built a liquefied petroleum gas, LPG, tank with capacity for 8,000 metric tons, MT, and a fleet of 40 LPG trucks. Gabriel Ogbechie, group managing director, Rainoil Limited, said the decision to invest in growing the LPG sector started in 2018.

Speaking at the inauguration of the facility, Ogbechie said Rainoil Gas would meet the energy needs of customers at the retail end in the months ahead. There are filling plants in process where LPG could be supplied in cylinders to consumers. He believed that the expansion of Rainoil aligns with the company’s vision and mission to proffer solutions to fill the voids in the sector.

The LPG business, which will trade as Rainoil Gas, was inaugurated in Lagos by Timipre Sylva, minister of state for petroleum resources, alongside Mele Kyari, group managing director, Nigerian National Petroleum Corporation, NNPC.

Sylva described Rainoil Limited as a leading integrated company in the downstream, noting that facility is in line with the Federal Government’s policy and drive to maximise the use of gas and deepening of consumption of LPG, that is, cooking gas. The minister applauded Rainoil for ensuring in-country utilisation and penetration of LPG, adding that the launching of the 8000MT facility and 40 LPG trucks would go a long way to realising the government’s objective of maximising value from gas and jobs creation.

The multi-product facility located at Ijegun, Lagos, the minister said, is in tandem with the vision of the government in making gas the preferred fuel. “I am excited at what I’m seeing. Everything can speak for itself.  As you can see, energy is very important in the global economy and I am glad that Nigerians are playing key roles in the oil and gas industry.

“Rainoil’s investment in gas development aligns with President Muhammadu Buhari’s agenda in the National Gas Expansion Programme, NGEP, adding that the government has declared 2020 as the year of gas,” he said.

Sylva stated that the country has sufficient gas reserves to meet its energy needs and was happy to see Rainoil align with the government’s drive to deepen LPG penetration and attain 5 million metric tonnes of LPG consumption by 2022.”

On his part, Kyari, who lamented that Nigeria is a net importer of petroleum products, announced that the NNPC is ever ready and willing to support the companies that are making effort in meeting the Federal Government’s developmental agenda. “We believe that gas is our next instrument for developing our economy, and we commend Rainoil in its effort in ensuring the use of gas in the country,” he said.

– Aug. 14, 2020 @ 16.35 GMT |

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