LONDON (Alliance News) - Victoria Oil & Gas PLC Monday said its subsidiary Gaz du Cameroun SA is now supplying gas to three new customers from its gas pipeline network in Douala, Cameroon.
The new customers are Dangote Cement Cameroun SA, which operates the Dangote cement clinker plant on the southern shore of the Wouri River, Société Industrielle Camerounaise des Cacaos SA, which is a subsidiary of Swiss chocolate group Barry Callebaut, and New Foods, which is a food processing business owned by Fokou Group.
Both Société Industrielle and New Foods have converted their operations from heavy fuel oil to natural gas, Victoria Oil said, adding that the total estimated additional daily consumption from all three customers is 0.7 million cubic feet.
Victoria Oil added that its average production rate at the Logbaba power station for May was 12.4 million cubic feet per day.
"We welcome Dangote, New Foods and Sic Cacaos as important new thermal customers for GDC. This is confirmation that industries will expand their operations when they can be guaranteed consistent supply of energy without the need for storage or transportation. Gas supply to the Bassa and Logbaba power stations is steady, and we are now focusing on additional customers in the Bonaberi industrial area across the Wouri River. Our monthly average gas consumption is triple the February average, and we expect to exceed our 10.5 million cubic feet per day target for the calendar year 2015," Chief Executive Kevin Foo said in a statement.
Shares in Victoria Oil were trading up 4.5% at 70.28 pence early Monday.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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