(Alliance News) - Savannah Energy PLC on Tuesday said its 80%-owned subsidiary, Accugas Ltd, has commenced gas sales to TransAfam Power Ltd in Nigeria.
Earlier in June, Savannah signed an interruptible gas sales agreement with TransAfam to supply up to 35 million standard cubic feet per day for an initial three-month period, with the option to extend.
The agreement relates to the provision of gas for use at its power plants in Nigeria. The plant is connected to the Accugas network.
Chief Executive Andrew Knott said: "This will be the third customer we have commenced new gas supply to in the past month. We have now signed and operationalised gas sales agreements with power plants comprising around 24% of the country's thermal generation capacity - up from 14% at the same time last year - demonstrating our dedication to the Nigerian industry and being the energy partner of choice."
Shares in Savannah Energy were up 1.5% at 35.05 pence on Tuesday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Savannah Energy (SAVE)