Technical Partners

OVERVIEW

SEABRIDGE PETROLEUM LTD PROJECT PROPOSAL TO ESTABLISH A CNG AND LPG PLANT IN OGUN STATE

¨In this feasibility study, SEABRIDGE targets to

MARCH 2022

SEABRIDGE targets to execute this pioneer project targeting Fleet owners such as those that drive routes starting and ending in the same location, factories and manufacturing companies, by retrofitting them to be well suited to use CNG as the fuel. The study also depicts the technical and commercial benefits of this project by exploring all the intricate aspects of the project ranging from natural gas feed stock, drying, filtering, compression, storage, dispensing, maintenance, Health Safety and Environment and financial projections.

¨The Federal Government of Nigeria through its National Gas Expansion Program put in place by the Honourable Minister of State for Petroleum Resources in furtherance of the domestic gas expansion program, is determined to reinforce and expand domestic gas supply and stimulate demand in the country. Part of the deliverables of this program include the development of a strong domestic gas-based economy by leveraging on the nation’s abundant gas potentials, promotion of gas as replacement fuel which will also save the nation the much needed foreign exchange expended on imported fuels and provide alternatives to PMS, AGO, and DPK for Nigerians. Seabridge CNG is taking advantage of the opportunity presented by this program to be a major player in the gas revolution of the country.

PROPOSED JOINT VENTURE PARTNERS TO THE PROJECT

¨NNPC GAS & POWER INVESTMENT LTD (NGPIC)

¨NNPC Gas & Power Investment Company is the newly privatised and wholly owned by the Nigerian National Petroleum Corporation (NNPC). Their mandate is to promote gas utilization as a cleaner fuel and maximize value from Investments across the LNG and power value chains as well as the Gas Based Industries (GBIs). NGPIC has a mandate to invest in gas based projects (CNG, LPG, IPP and other petrochemical businesses) For the sales of CNG & LPG NNPC retail outlets will be utilised.

pioneer project targeting Fleet owners such as those that drive routes starting and ending in the same location, retrofitting them to be well suited to use CNG as the fuel. The study also depicts the technical and commercial benefits of this project by exploring all the intricate aspects of the project ranging from natural gas feed stock, drying, filtering, compression, storage, dispensing, maintenance, Health Safety and Environment and financial projections.

¨The Federal Government of Nigeria through its Nation Minister of State for Petroleum Resources in furtherance of the domestic gas expansion program, is determined to reinforce and expand domestic gas supply and stimulate demand in the country. Part of the deliverables of this program include the development of a strong domestic gas-based economy by leveraging on the nation’s abundant gas potentials, promotion of gas as replacement fuel which will also save the nation the much needed foreign exchange expended on imported fuels and provide alternatives to PMS, AGO, and DPK for Nigerians. Seabridge CNG is taking advantage of the opportunity presented by this program to be a major player in the gas revolution of the country.