Windek Energy Limited says it has secured a $100m contractor financing agreement with Cakasa Nigeria Limited for the construction of a 20,000 metric tonne Liquefied Petroleum Gas storage facility at the Liberty Oil and Gas Free Zone, Atabrikang, Akwa Ibom State.
It announced this in a statement on Thursday. The statement noted that the project aligns with Windek Energy’s strategic goal of expanding Nigeria’s domestic LPG storage capacity, ensuring a more resilient and efficient energy supply.
The Managing Director of Windek Energy, Nosa Okunbo, remarked: “This partnership with Cakasa is a game-changer for our expansion plans. The new facility will significantly enhance LPG storage and distribution, supporting both industrial and household energy needs across Nigeria.”
Also speaking on the partnership, the Executive Director of Windek Energy, Emmanuel Uwandu, said LPG investments would secure the country’s energy future by creating economic opportunities.
“Investing in LPG infrastructure is key to ensuring Nigeria’s energy future. This facility will not only strengthen supply chains but also create economic opportunities in Akwa Ibom and beyond,” he stated.
On his part, the Managing Director/Chief Executive Officer of Cakasa Nigeria Limited, Barnabas Olise, said the partnership would ensure industrial growth for the state and Nigeria.
“Cakasa is proud to support Windek Energy in bringing this critical project to life. This agreement highlights our shared vision of driving energy security and industrial growth in Nigeria,” he stated.
Also, the Executive Director of Business Development at Cakasa, Celestine Cliffe, FNSE, noted, “The Liberty Free Zone LPG facility will serve as a vital energy hub, improving accessibility and efficiency in the sector while fostering economic development in the region.”
The 20,000MT facility will position Akwa Ibom as a major hub for energy logistics, creating jobs and boosting local economic development.
The statement further stated that another firm, NESGAS Limited, a player in Nigeria’s Liquefied Petroleum Gas distribution sector, also signed a $200m contractor financing agreement with Cakasa Nigeria Limited for the construction of a 50,000 metric tonne LPG storage facility in Onne, Rivers State.
