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“$1bn Azura/Edo IPP Initiates Willing Buyer-Seller Gas Pricing” – Minister

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has stated that the gas transaction arrangement of the upcoming $1 billion 450Megawatt Azura/Edo Independent Power Plant (IPP) is a pacesetter in the two-tier gas pricing arrangement proposed under Nigeria’s gas master plan.

According to the Minister, the master plan would ensure that there would be a willing buyer-willing seller pricing regime and as such, the new IPP would be setting the pace for such gas pricing and trading arrangement.

Alison-Madueke, in a statement issued by the Group General Manager, Public Affairs of the Nigerian National Petroleum Corporation (NNPC), Ohi Alegbe, yesterday in Abuja, said that within the arrangement, gas supply to the plant would be sustained by the Nigerian Petroleum Development Company (NPDC) and its joint venture partner, Seplat Petroleum Development Company.

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