PROJECT – PRE-FINANCING REVIEW, DUE DILIGENCE, AND EVALUATION OF A SMALL SCALE LNG STORAGE & DISTRIBUTION
CLIENT – USTDA / NOVI ENERGY & GLNG (PHASE II)
LOCATION – ABEOKUTA, NIGERIA
COST – CONFIDENTIAL
ROLE – TECHNICAL & COMMERCIAL INDEPENDENT
DATE – NOVEMBER 2020 – TILL DATE
STATUS – ONGOING

In supporting the development of a Small Scale Liquefied Natural Gas (LNG) storage and distribution business, as an expansion to an existing Compressed Natural Gas (CNG) supply and distribution business, being run by Green Fuels Limited, an affiliate of Green Liquefied Natural Gas Limited (GLNG), USTDA / NOVI Energy engaged the services of Energy Culture, to carry out an independent techno-commercial evaluation, due-diligence and provide feasibility study support for the project, as the Nigerian component provider based on a grant awarded to GLNG to cover part of the project development costs. The scope of engagement entailed reviewing and confirming the appropriateness of all the processes that exist between the contracting and the sourcing of natural gas feedstock to liquefaction and delivery of the LNG to various daughter stations (end-user points) within South-Western Nigeria, for regasification. USTDA / NOVI Energy’s expectation, was for Energy Culture to provide an on-ground assessment of the project and the market, for assurance regarding the information used in developing the study. In the end, the focus aligned pretty much with the expansion strategy of GLNG.