Seplat Completes First Domestic LPG Supply from Bonny River Terminal

Seplat Energy Plc, in collaboration with the Nigerian National Petroleum Company Limited (NNPCL), has successfully completed its first domestic supply of Liquefied Petroleum Gas (LPG) from the Bonny River Terminal in Rivers State. The milestone saw the delivery of 12,600 metric tons of butane into the Nigerian market, signaling a major step toward boosting energy security and cutting dependence on imported cooking gas.

Traditionally an export hub, the Bonny River Terminal has now been repositioned to serve the domestic market, reflecting Seplat’s broader commitment to growing Nigeria’s local energy infrastructure. The company is also advancing two major projects: the 300 million standard cubic feet per day ANOH Gas Plant in Imo State and the 90 million standard cubic feet per day Sapele Gas Plant in Delta State. Both facilities, which include LPG extraction units capable of producing 120 and 163 metric tons per day respectively, are expected to begin operations in the last quarter of 2025.

By increasing access to locally produced LPG, Seplat aims to make clean cooking fuel more affordable and accessible while reducing Nigeria’s reliance on biomass, still used by over 80 percent of households for cooking. Commenting on the development, Roger Brown, Chief Executive Officer of Seplat Energy, said: “Gas and LPG usage is growing rapidly in Nigeria, and reliable domestic supply is essential to achieving energy security, reducing carbon emissions, and improving air quality. At Seplat, we are proud to be at the forefront of this transition, delivering cleaner energy solutions that empower communities and support sustainable growth.”

This achievement builds on Seplat’s acquisition of Mobil Producing Nigeria Unlimited in late 2024, now operating as Seplat Energy Producing Nigeria Unlimited (SEPNU). Following the integration of this asset, Seplat recorded an 11 percent increase in total production in 2024, with average daily output climbing to 52,947 barrels of oil equivalent per day compared to 47,758 boepd in the previous year. Independently audited reserves also surged, with 2P reserves rising 85 percent to 886 million barrels of oil equivalent, while total 2P+2C reserves grew by 125 percent to 1.2 billion barrels of oil equivalent.

The company’s momentum carried into 2025, with H1 results showing a near tripling of average daily working interest production to 134,492 boepd compared to 48,407 boepd in the same period of 2024. Revenue for the first half of the year reached N2.1 trillion, already surpassing full-year 2024 levels by 31 percent. In Q2 alone, revenue jumped 206.5 percent year-on-year to N939.2 billion, supported by higher crude oil output. Gross profit climbed 18 percent in the quarter to N215.8 billion, pushing first-half gross profit to N751.2 billion, an increase of 204 percent year-on-year. Pretax profit also grew strongly, rising 86 percent to N454.1 billion despite cost pressures.

Seplat’s delivery of its first domestic LPG cargo from the Bonny River Terminal highlights the company’s growing role in Nigeria’s energy transition, positioning it as a key driver of cleaner, sustainable energy solutions for households and industries across the country.