Chevron Named Project Manager for West African Gas Pipeline Project

abarrelfullabarrelfull wrote on 08 May 2012 08:49

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Aug. 16 1999

In a joint venture agreement signed here today, Chevron has been appointed project manager for one of West Africa's most significant regional energy projects, the West African Gas Pipeline (WAGP).

The joint venture agreement establishes a consortium of six energy resource companies to develop the West Africa Gas Pipeline, outlines the corporate structure of the joint venture, and establishes a program to expedite the technical and commercial activities required to complete pipeline development by 2002. The consortium and the governments of Benin, Ghana, Nigeria, and Togo signed a Memorandum of Understanding on Aug. 11, granting development rights to the consortium.

"The signing of the joint venture agreement is the first step required of the consortium under last week's accord with the governments," said George Kirkland, chairman and managing director of Chevron Nigeria Ltd. "Chevron is immediately mobilizing the people required to fast-track this vital project."

As announced on Aug. 11, the pipeline is expected to cost approximately (U.S.) $400 million and to initially ship about 120 million cubic feet per day of Nigerian for sale to power generation customers in Ghana, Togo and Benin. In addition to delivering much needed energy to this part of the African continent, it is envisioned that the project will significantly contribute to the economies of the participating nations through the creation of jobs and low-cost fuel for new industrial and commercial development ventures. Responding to these new demands, the volumes may double or triple over the life of the project.

The West African Gas Pipeline project will reduce greenhouse gas emissions by cutting down on flaring associated with existing oil production in Nigeria. Air pollutants will be further reduced because natural gas will replace the use of fuels that are less "friendly" to the environment in power generation and industrial production. "The WAGP project dovetails perfectly with Chevron's phased development of its Escravos Gas Project, and embodies our commitment to commercialize the vast natural gas resources of Nigeria," Kirkland concluded.

The participants in the development consortium are: Chevron Nigeria Ltd.; Ghana National Petroleum Corp.; Nigerian National Petroleum Corp.; The Shell Petroleum Development Company of Nigeria Ltd.; Societe Beninoise de Gaz S. A.; and Societe Togolaise de Gaz S. A.

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