Press Release Ardova Plc To Conclude Construction of West Africa’s Largest LPG Storage Facility...

Ardova Plc To Conclude Construction of West Africa’s Largest LPG Storage Facility in December 2022

Ardova Plc (“AP” or “Ardova”) recently held a
Liquefied Petroleum Gas (LPG) storage facility at the company’s Ijora-Lagos Campus. The LPG
Olumide Adeosun, Chief Executive Officer, Ardova Plc, said“Thisevent marks an important step
make LPG mainstream at the end of the decadeandthe present growing rate of in-country
future where renewablesand cleaner fuels represent a considerable segment of our product
tonnes,underscores Ardova’s commitment to grow revenues from cleaner fuels.
groundbreakingceremony to commemorate the ongoing construction of its newworld-class
Nigeria,in congruencewithboth the Nigerian government’sgas expansion plan which seeks to
Ardova’sinvestment in this facility supersedestheexpected commercial returns, as the
in our evolution to an integrated energy company, as it draws us closer toour projection of a
Mr. Adeosun also notedthat “This facility, when completed will be West Africa’s largest LPG
facility whichwill sit on 8.8 hectares and have a combined storage capacity of 20,000 metric
storage complex,placing Ardova atthe top of the industryinreceiving,blending, storing,and
distributingthe product to both commercial and retail customers. It also indicates the direction
consumeradoptionof theproduct
offering and balance sheet.”
of travel for our company, as it spotlights our confidence in LPG as the fuel of the future in
company is equally focused on thepositive environmental and human impact that increase

access to gas wil create.Mr. Adeosun notedthat“Weare aso particularly interested inthe
improvedsocio-economic prospects it portends for citizens of our beoved country, especially
attendant health risksand reduces much needed ground cover provided by trees at alarming
fabrication,and sourcing of every single component to beusedin this projecthave been
rural consumers whose reliance on biomass suchasfirewood makes them vulnerable to
benchmarkedagainst the highest standards of Engineering, Procurement, and Construction
facility that will be both best in class and future ready.Thefirmsinvolved in the construction,
confident that we willdeliver a world class facility that will continue to yieldresults for the
Mr.Adeosun added that “By December 2022,when construction is completed,we wil havea
(EPC) management, as well as Health, Safety and Environment (HSE) specifications. I am
company indecadesto come.”



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