With CETPower as a strategic partner and off-take anchor, CETGas is currently putting measures in place to drive an LNG and CNG Solution initiative, in the South-East region of Nigeria.
Via this arrangement, CETGas will drive a virtual pipeline solution model after harnessing gas from a gas source (gas processing plant or pipeline from a gas field), which will be and trucked in specialized cascade containers (CNG and LNG), to CETPower’s gas-fired plants within the South-East region of Nigeria. The rollout plan will commence with the site build of a Liquefaction Plant, to convert processed gas to LNG for re-gasification at clients' stations. The LNG roll-out will promptly be followed by a CNG model to cover areas with shorter distances (from the gas source). The overarching objective is to utilize both models in delivering our strategic Gas-to-Power goals.
Discussions are on-going within the Delta region of Nigeria, for arrangements to off-take gas for CETGas feedstock. The capital investment ($6.5m) required to set up the necessary infrastructure for our LNG initiative, has been earmarked. We will be leveraging on this equity to raise further capital ($19.5m) from third parties, via an investment road show. The venture is envisaged to take off in Q1 of 2016.
