Nigeria-based integrated energy solutions provider Oando has commissioned the Front End Engineering Design (FEED) of the ultramodern refined petroleum products import terminal at the Lagos State Lekki Free Trade Zone (LFTZ).
The terminal is scheduled to be completed by the Q3 2009, whilst the entire project is expected to be commissioned in Q1 2012.
The 210,000 tonne capacity terminal is conceptualised to be the best-in-class and the largest purpose built product terminal in sub-Saharan Africa dispatching over 500 trucks per day.
This investment is a precursor to Oando's plan to develop a Greenfield Refinery Project in the same location. A comprehensive four-month detailed bankable feasibility study for an ultra-modern refinery has been concluded.
This project will have a direct impact on the downstream sector as it will radically reduce the traffic to Apapa port, which was originally built to handle only 10% of Nigeria 's energy import requirement as against the 90% it does today. It will also increase Major Marketers' throughput by bridging the huge supply gap, Ayo Ajose-Adeogun, CEO of Oando Refinery and Terminals comments.
The Lekki Terminal Project will have a Single Point Mooring (SPM) facility located about 7km offshore, which will support the berthing of 80,000 deadweight tonnage (dwt) vessels for the first time in West Africa, thereby significantly providing unprecedented cost efficiencies, he adds.
East Horizon Gas Company, the subsidiary of Oando handling the project, has achieved over 15km of pipeline construction within the Cross River State boundary.