Nigeria has one of the largest gas reserves globally and a fast evolving domestic market to which Seplat is a leading supplier.
We are very proud of the success of our gas story and the plan is to further increase gas production and processing capacity to meet Nigeria’s growing demand, particularly in the gas to power sector.
Seplat’s production and development plans will fuel Nigeria’s ‘Power Revolution’.
2015 was a transformational year for our gas business as we commissioned the new Oben gas processing facility allowing us to more than double gas supply to the domestic market. Our production is sufficient to underpin around a third of current power generation in Nigeria.
Gas revenues in 2015 grew by 185% year on year to US$77 million with only a six month benefit from the capacity expansion at Oben. Furthermore, the 119% increase in gas production was accompanied by a 34% increase in the average realised gas price.
