“We will optimize existing assets, gas-power strategy for value creation” | The Guardian Nigeria News

Transnational Corporation Plc said it would optimize its existing assets and leverage the company’s gas-to-power strategy to deliver good returns on investment and increase shareholder value.

Speaking at the company’s “Fact Behind the Figures” conference, held in Lagos, Managing Director Owen Omogiafo said the company’s overall strategic objective is to fully optimize its existing assets and ensure consistent gas production both now and in the future.

She said the company’s main priority is to achieve the targets set for the year in the various operating segments, part of which is to increase Transcorp Power Limited’s average available capacity to 690MW and target a production capacity of 553 MW in 2022.

According to her, following the administrative transfer in March 2021, the company managed to increase and maintain the available capacity of the plant from 48 MW at the time of the takeover to 188 MW with minimum CAPEX requirements between March 2021 and September. 2022.

“However, current gas challenges have impacted our production capacity. TAPL has undertaken the following activities to improve its performance in the future: Commissioning of GT20 with an additional capacity of 138 MW in September. GT20 has not been operational for 15 years; executing a gas supply agreement with AccuGas and HHOG and discussing with other gas suppliers to ensure we have a stable gas supply.

She added that with improved installed capacity and gas supply, Transcorp hopes to finish strong in 2022 and get off to a good start in 2023.

Omogiafo explained that the group will continue to exceed industry and targets across key performance indicators, pointing out that the 2022 strategic target for Transcorp Hilton Abuja is set at 73%, while that of Transcorp Hotels Calabar is at 53. %.

According to her, in the midst of the current economic situation; inflation, exchange rate volatility and insecurities, Transcorp’s management ensured maximum efficiency and consistently delivered superior customer service, while maximizing revenue and creatively seeking ways to optimize segments key business people.

“We will continue to engage stakeholders through product innovation, good corporate governance practices, and rewards to ensure strong customer base and purchases when we go to market,” he said. she declared.

Managing Director of Transcorp Power Limited, Christ Ezeafulukwe, said the company is putting in place a strong gas-to-power strategy that will enable it to become gas self-sufficient and ensure sustainable gas production.

“Our oil and gas assets are very rich in gas; it is located at a point where we can afford to transport gas after the dedicated development to our power plant at Ughelli where this gas will be used to power the plant. We are also working with experts and we are at the stage where we are validating some of the numbers.

“In the medium term, we will definitely have gas from our assets, it’s about 41-42 km away.

We’re going to have a pipeline that’s going to be a transportation asset for us that will also open up to other injectors who may want to take advantage of it in the future, but the ultimate goal is to have gas delivered to our factory ” .