Ardova Plc-led consortium, alongside Diadem Energy, has agreed to acquire 100 per cent of Powergas Global Investments Nigeria Limited and Powergas Ebedei Limited, strengthening Ardova’s position in Nigeria’s growing compressed natural gas (CNG) market.
Powergas is one of Africa’s largest CNG producers and virtual pipeline distributors, supplying natural gas to industrial and commercial customers beyond areas covered by conventional gas pipelines.
The acquisition will combine Powergas’ gas-sourcing relationships and compression infrastructure with Ardova’s nationwide retail, logistics and distribution network. Ardova plans to deploy CNG facilities across its retail network and establish 100 CNG refuelling sites within 24 months.
The transaction will also expand the use of gas captured through flare-gas monetisation projects, while supporting industries and transport operators seeking alternatives to diesel and other petroleum fuels.
Powergas has created 175 direct jobs and expanded its distribution operations across several regions of Nigeria. The enlarged business is expected to increase gas utilisation, expand compression capacity and support investment across the domestic gas value chain.
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