Ardova Plc-led consortium to acquire 100% of powergas, africa’s largest cng producer
A.P. Moller Capital today announced that, through its Africa Infrastructure Fund I (“AIF I”), and Impala Energy Holdings (“Impala”), it has entered into an agreement under which a consortium led by Ardova Plc (“Ardova”) and including Diadem Energy (“Diadem”) will acquire Powergas Global Investments Nigeria Limited and Powergas Ebedei Limited (“PEL”), together known as “Powergas”, […] The post…
A consortium led by Ardova Plc and including Diadem Energy is set to acquire Powergas Global Investments Nigeria Limited and Powergas Ebedei Limited, collectively known as Powergas. Powergas is Africa's largest Compressed Natural Gas (CNG) producer and virtual pipeline distributor. The acquisition will add a natural gas platform to Ardova's existing petroleum products and LPG businesses.
Powergas was founded in 2013 and has developed a compression facility and virtual pipeline network for industrial and power customers. The transaction is part of Ardova's strategy to become a leading domestic gas infrastructure and gas monetisation partner for upstream producers. Dr. AbdulWasiu Sowami, Executive Chairman of Ardova Plc, emphasized the importance of gas in Nigeria's energy development and Ardova's plan to connect the country's abundant gas resources to industry, power, and transportation.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
