Savannah Energy Signs New Gas Sales Agreement With TransAfam Power Limited

Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that the Company’s 80% indirectly owned subsidiary, Accugas Limited, has entered into a new gas sales agreement (“GSA”) with TransAfam Power Limited (“TAPL”) in relation to the provision of gas for use at its power plants in Rivers State, Nigeria.

TAPL is a licensed power generation company in Nigeria and is the core investor in the Afam Power Plc and Afam Three Fast Power plants located in Okoloma, Rivers State, Nigeria with installed capacity of 966MW.

Accugas has entered a GSA with TAPL to supply up to 35 MMscfpd of gas on an interruptible basis for an initial term of three months, with the option to extend for a mutually agreed period.  The plant is connected to the Accugas network via the Nigerian Gas Company pipeline from Ikot Abasi and no further tie-in or capital expenditure is required by Accugas to deliver gas to TAPL.

Andrew Knott, CEO of Savannah Energy, said:

“I am delighted to add TAPL as a new customer of Accugas. This represents the second new GSA we have signed this year, bringing our total number of gas customers to seven, as we deliver on our objective to be the gas supplier of choice to the power sector in Nigeria.”

 Vincent Ozoude, MD/CEO of TransAfam Power Limited said:

“We are excited to start this journey with Accugas Limited which supports our core purpose of improving lives and transforming Nigeria. This relationship with Accugas should go a long way in boosting our plant capacity recovery programme and improved power generation to the country.”