By Kingsley Alu
ASPM Limited, a subsidiary of OVH Energy Limited has launched its Lagos Midstream Jetty (LMJ) projected to save Nigeria whooping N43billion annually.
Described widely as West Africa’s first privately owned mid-stream jetty, the Lagos Midstream Jetty is conceived by Oando PLC to increase the delivery capacity and offloading efficiency of petroleum products
into marketers’ storage facilities in Apapa Lagos.
The Jetty is expected to alleviate the perennial infrastructural hiccups experienced in Apapa, eliminating the lightering and demurrage charges currently being incurred by petroleum marketers by NGN8.3 billion ($23m) and NGN9.8 billion ($27m) respectively.
Additionally, it will reduce discharge time from 21 to 3 days and increasing product availability.
With a draft of 13.5m, Length Overall (LOA) of 210m and a capacity to receive 45,000 DWT vessels (deadweight tonne), the Lagos Midstream Jetty will discharge at up to 800 m3 (cubic meters) of petroleum products per hour.
The Jetty will operate 24 hours a day to supply products into storage facilities situated within the Apapa axis, via a 3km submarine pipeline network linked directly with up to 200,000MT storage belonging to major and independent marketers in Nigeria.
LMJ which is configured to receive all white products namely petrol, diesel and kerosene, consists of a simple horizontal platform, five
(5) berthing dolphins, and four (4) mooring points.
Chairman OVH Energy, Mr Wale Tinubu said ‘the Lagos Midstream Jetty was conceived as an innovative industry solution to the perennial
challenges marketers faced in the importation of petroleum products’.
“Over the past 30 years, marketers have spent approximately NGN1.6
Trillion ($4.5 billion) on lightering, with 90% of this spend flowing out of the country.
“Today we have delivered a first class piece of engineering that meets global standards, is the first of its kind in sub-Saharan Africa and will be of invaluable benefit to the industry and nation at large” he added.
While thanking contractors and bankers for believing in the project, Tinubu said the Lagos Midstream Jetty is indeed another infrastructural success for Nigeria and the African continent.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from LEADERSHIP Nigeria Newspapers. Contact: email@example.com
- FEATURES22 hours ago
‘Why Atiku Will Defeat PMB’
- NEWS17 hours ago
Atiku Is A Walkover In 2019 – Sen. Ndume
- NEWS11 hours ago
Jonathan, A True Democrat – Buhari
- COVER STORIES3 hours ago
How Obama, Borno Govt Frustrated Chibok Girls’ Rescue – Jonathan
- FEATURES22 hours ago
‘APC Stands A Good Chance In Anambra’
- NEWS20 hours ago
Shooting: Police Urge Enugu Residents Not To Panic
- BUSINESS23 hours ago
Oil Price Stabilises Over Supply Cut By OPEC
- OPINION23 hours ago
Combatting Corruption And Illicit Financial Flows In Nigeria