Two hundred and fifty-eight million standard cubic feet of gas were sold by the West African Gas Pipeline Company, (WAPCo) in 24 hours in March due to the increased demand caused by Russia’s invasion of Ukraine.
The Nigerian National Petroleum Corporation Limited has 24.9 per cent stake in WAPCo, alongside other companies in Ghana, Togo and the Benin Republic.
Managing Director of WAPCo, Gregory Germani, said the gas company saw the highest one-day peak of 258 million standard cubic feet of gas per day in March
According to Germani, WAPCo set a new monthly average record of 215 million standard cubic feet per day of natural gas for itself.
Though Germani did not reveal previous numbers in terms of sales, experts said the number represented a 20-40 per cent increase in sales.
Germani said, “Given the history of supply challenges on the West African Gas Pipeline in the past, these constitute remarkable progress, demonstrating how gas supply prospects on the WAGP have evolved and reflected how hard we have worked to overcome previous vulnerabilities.”
He noted that WAPCo, together with the West African Gas Pipeline Authority, would implement the novel WAGP Network Code to further advance growth opportunities and offer a level-playing ground for all parties.
The Minister of State for Petroleum Resources, Timipre Sylva, said the gas pipeline project was true proof of economic integration and cooperation in the ECOWAS sub-region.
Sylva said, “This meeting is coming at a very critical time, especially given the changing socio-political landscape occasioned by the Russian-Ukrainian war that has put pressure on global gas demands across Europe.”