(Adds name of lenders, details, background)
LAGOS, July 15 (Reuters) - Oil and gas firm Seven Energy hassecured a $495 million loan from a consortium of Nigerian andinternational lenders to help fund its spending to supply gas tothe domestic market, an adviser on the deal said on Wednesday.
Seven Energy, an indigenous Nigerian company, plans to buygas fields along with the related infrastructure and pipelinesso it can sell gas into the domestic market for use in powergeneration and industrial consumption.
Demand for gas in Africa's biggest economy is expected torise to 3 million standard cubic feet (scuf) per day by 2017 asgas-fired power plants ramp up generation, industry officialssay. Gas demand has risen to 1.2 billion scuf per day four timesthe 300 million of six years ago.
Nigeria privatised its electricity sector 18 months ago in abid to end decades of blackouts which have hampered economicgrowth. Most of the plants sold were gas-fired and operatingbelow capacity due to inadequate gas supply.
Accugas Limited, a wholly-owned subsidiary of Seven Energy,processes and distributes gas in Nigeria. It has alreadyinvested $1 billion in related projects in the southeast.
Seven Energy's senior secured term loan is provided by:First Bank, Ecobank, United Bank for Africa, Union Bank, FCMB, FBN Bank UK andUnion Bank UK, the financial adviser said in a statement.
Last year, the oil and gas company secured $255 million fromequity investors, including Singapore state investor TemasekHoldings, to help build up its gas business.
Part of the new debt will also be used to refinance existingloans and fund working capital.
Rival firm Seplat, listed in Lagos and London, is aiming to have a 20 percent share of the domesticgas market by 2018. It plans to increase gross output from about120 million scuf per day to 400 million by 2017. (Reporting by Chijioke Ohuocha and Oludare Mayowa; editing byDavid Clarke)
