A subsidiary of OVH Energy Limited, ASPM Limited has launched its Lagos Midstream Jetty (LMJ) projected to save Nigeria N43 billion 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 N8.3 billion ($23m) and N9.8 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 (Dead Weight 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
berthing dolphins, and four mooring points.
Chairman OVH Energy, 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,” Tinubu said.
He said the LMJ which is the first of its kind in sub-Saharan Africa, will be of invaluable benefit to the industry and nation at large.Please subscribe to our newsletter