In alignment with the Federal Government's push to boost Compressed Natural Gas (CNG) adoption, the Midstream and Downstream Gas Infrastructure Fund (MDGIF) has finalized talks with a prominent Chinese manufacturer to roll out 500 CNG refuelling stations across Nigeria within the next three years.
According to a statement from MDGIF Executive Director Oluwole Adama, the discussions focused on establishing a government-backed Special Purpose Vehicle (SPV), led by MDGIF and its investment partners.
The initiative will create the Compressed Natural Gas Auto Mobility Infrastructure Company, tasked with deploying 500 integrated CNG refuelling stations, developing Liquefied Compressed Natural Gas (LCNG) facilities, building gas supply infrastructure, and supplying CNG and Liquefied Natural Gas (LNG) transportation trucks to establish a virtual pipeline network spanning all states.
The project aims to alleviate persistent queues at current CNG stations by increasing refuelling access and enhancing supply reliability through advanced logistics and distribution networks.
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com