Rainoil Limited has launched its newly built 8000metric tons capacity Liquefied Petroleum Gas (LPG) tank, with fleet capacity of 40 trucks, aimed at deepening penetration of the commodity in-country.
The inauguration of the facility sited at Ijegun, Satellite Town, Lagos, recently, attracted top industry players led by the duo of the Minister of State for Petroleum Resources, Chief Timipre Sylva; and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari. They both commended Rainoil for ensuring in-country utilisation of LPG, commonly known as cooking gas.
While inaugurating the LPG business, which will trade as ‘Rainoil Gas’, the minister described Rainoil as a leading integrated company operating in the downstream sector of the Nigerian oil and gas industry and a strong partner with government in the utilisation and development of the gas sector in the country.
He added that the company was working in tandem with the vision of the federal government in making gas a preferred fuel in the country.
“I am excited at what I am seeing here today. Everything can speak for itself. As you can see, energy is very important in the global economy and I am glad that Nigerian’s are playing key roles in the oil and gas industry,” Sylva stated.
He noted that Rainoil’s investment in gas development aligns with President Muhammadu Buhari’s agenda in the National Gas Expansion Programme (NGEP), adding that the government has declared 2020 as “the year of gas”.
The minister stated that the country has sufficient gas reserves to meet its energy needs and that he was happy to see Rainoil align with the governments drive to deepen LPG penetration and attain 5millionmt of LPG consumption by 2022.
In his remarks, Kyari, who lamented Nigeria’s current status as a net importer of petroleum products, noted that NNPC was ever ready and willing to support every company making effort in accomplishing the federal government’s developmental agenda.
“We believe that gas is our next instrument for developing our economy, and we commend Rainoil in its effort in ensuring the use of gas in the country,” Kyari said.
Earlier in his welcome address, the Group Managing Director of Rainoil Limited, Dr. Gabriel Ogbechie, said the company’s decision to invest in growing the LPG sector started in 2018.
According to him, Rainoil Gas would meet the energy needs of customers at the retail end in the coming months. “There are filling plants in process where LPG can be supplied in cylinders to consumers,” he added.