Bank finances gas project to boost performance

IN what has been termed a significant milestone in the advancement of Nigeria's domestic gas industry and the generation of gas revenues, Temile Development Company Limited – a key indigenous player in the oil and gas industry – has commissioned a 23,000 cubic meters ultramodern liquefied petroleum gas ( LPG) carrier.

Named ‘ Alfred Temile 10’, the vessel was part- financed by Fidelity Bank Plc and was commissioned at the Hyundai Mipo Dockyard in Ulsan, South Korea.

The commissioning was witnessed by the Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd ( NNPCL), Mele Kyari; Managing Director/ Chief Executive Officer, Fidelity, Dr Nneka Onyeali- Ikpe; Minister of State for Petroleum Resources ( Gas), Ekperikpe Luke Ekpo among others.

Commending the company on the laudable development, Kyari said: “I want to congratulate Mr. Alfred for the great feat you have achieved on behalf of our countr y and we understand that today clean energ y is ever ything because the whole world is transitioning to cleaner fuel. I n our country, biomass is the major source of energy, and I know that the efforts we are making collectively and with this effort by Temile Group will enhance that ability to produ ce cleaner energy in our country.” Onyeali- Ikpe said: “This commissioning is a landmark achievement for Nigeria as the vessel would further support the nation’s drive to utilize cleaner e nergy sources especially as the world transitions to en vironmental- friendly energy options. Fidelity Bank is delighte d to facilitate this transaction and we congratulate our amiable customer - Mr. Alfred Temile- as well as the good people of Nigeria on this feat.”