18 Mississippi Drive, Maitama, Abuja FCT
18 Mississippi Drive, Maitama, Abuja FCT
Ace Gas & FLNG Company Limited is excited to introduce the Ace FLNG Project, which aims to develop over 3MTPA of LNG. The feedstock for the project will be sourced from multiple fields located within a minimum of 4 blocks in the swamp and shallow water regions close to OML 109. The NPV(10) for this project is expected to exceed $1 Billion, and it benchmarks excellently with other similar projects in Africa. We have developed an integrated model that ensures sufficient gas feedstock for Phase 1 and Phase 2 of the project, as well as a possible expansion. The model will help derisk upstream gas resourcing, and we guarantee at least 7 TCF of gas supply.
The midstream products expected from the project include LNG, LPG, and condensates. The LNG will be marketed through medium to long-term contracts, targeting critical gas shortages in Europe and potentially replacing Russian gas. We will supply 50MMSCFd of treated gas to Phase 1 of the floating power barge. The condensates will be sold based on fixed-term and spot market oil markets, and exports will go through the most proximal terminal. We will assess opportunities for a direct contract with a refinery. LPG will be distributed locally, and excess LPG will be distributed across West Africa to provide direct import substitution and reduce the cost of domestic cooking gas.
At Ace Gas & FLNG Company Limited, we are committed to delivering a profitable and sustainable project that contributes to the energy security of the region and reduces carbon emissions. We believe that this project will create significant value for all stakeholders, and we look forward to collaborating with partners and communities to achieve our vision.
The Ace FLNG project has access to guaranteed feedstock supply for over 7TCF of gas from OML 109, Odimodi Marginal Field, Osuopele Marginal Field, and Gwatto Marginal Field. This gas will be processed through the midstream facility to produce LNG, LPG, and condensates. The LNG will be marketed through medium to long term fixed contracts, targeting local Power Barges and critical gas shortages in Europe, with the pivot from Russian gas.
Ace Energy and Power Consults present a unique and de-risked opportunity for savvy investors that focuses on keying into the ongoing transmission and distribution infrastructure improvements in the Power sector. Our strategy is to collocate power barges proximal to our owned and operated gas assets and gas processing facilities (proximal to Ace FLNG) within the Escravos/Forcados hub. Hence processed gas supply to our power plant will be guaranteed from a collocated gas processing facility to be designed, installed, and operated by Ace Gas and FLNG Midstream Company. The project will be developed over 2 phases. Phase 1 will deliver 500MW of power to the grid while Phase 2 will expand this capacity to 1000MW. Where required we will invest in transmission station infrastructure upgrades.
Power supply will be hinged on NERC's new policy which allows the direct power supply to willing states through the local discos via a decentralized and decongested grid system. Our Power plant is properly sized and situated to provide grid stabilization. We will target power supply to highly industrialized states like Lagos, Kano, Rivers, Delta, and Kaduna with a strong focus on built electricity supply in a quantum of 50MW outside of the existing NBET framework.
Power Barge technology will be provided by Wison Power and Marine our strategic technical partners. 120MMSCFd of gas required for this project will be sourced from the Osuopele and Korolei Fields that we own with additional supply security from several proximal stranded gas fields in the Escravos/Forcados area within a 30 to 50 km radius of our power barge location. We will work with the discos to implement a smart grid system to boost collection efficiencies and improve overall project viability.
Ace Energy and Power Consults and it’s consortium partners welcomes potential investors to participate in the exciting ACE-CDR LNG project set in the coastal regions adjacent to the Lekki Free Trade Zone. This ambitious venture is structured over two phases, with Phase 1 focusing on producing approximately 180 million standard cubic feet per day (MMSCFd) of high-quality pipeline gas (1.2MTPA capacity of LNG and 75KMT of LPG from the associated midstream plants).
Phase 1: The initial phase focuses on a 2 X 45 million standard cubic feet per day (MMSCFd) LNG train using Cryosys modularized technology, allowing for the commercialization of 90MMSCFd of gas. Gas feedstock is secured from OML 96, with the possibility of partnering with Boaz in the FTSA, and additional feedstock available from OML 26. Midstream gas supply is guaranteed. The target maximum gas delivery price is $3.5/MCF, offering substantial profit margins for both local and international markets, translating to a gross revenue of at least $450 million per year, exclusive of processing and shipping costs.
Phase 2: The second phase involves expanding capacity by another 2 X 45MMSCFd to achieve a total capacity of 180MMSCFd. Upstream assets and capacity expansion of midstream gas processing plants will ensure a continuous gas supply as long as a securitized Gas Sales Agreement (GSA) exists. Tie-in lines into the West African Gas Pipeline (WAGP) are needed, along with upfront gas conditioning units to address gas quality concerns.