Green Fuels Limited (GFL) was incorporated in 2007 to operate a CNG processing and distribution business with diverse industrial customers in locations without access to piped gas infrastructure in Southwest, Nigeria.
In July 2018, Green Liquified Natural Gas (GLNG) was established by Green fuel limited (“GFL”) and it uses virtual pipeline systems to process and deliver liquified natural gas solutions to industrial users in off-pipeline areas while providing captive gas solutions to them. This decision was driven by the increasing demand for natural gas by industrial users, including some of GFL’s existing compressed natural gas customers such as C-way Food and Beverages, Paras Energy & Natural resource and Oshogbo Steel Rolling Mill etc.
The Company currently owns and operates two (2) compression plants located in Ota and Abeokuta in Ogun state with a combined compression and distribution capacity of 10.5mmscf
per day. Two plants are equipped with six compressors (four (4) in Ota plant and two (2) in Abeokuta plant). The feedstock gas to the CNG plants Is provided by Shell Nigeria Gas (SNG)
and Nigeria Gas Company (NGC). GFL’s key customers include Nigerian Breweries Plc., Lagos Continental Hotel, Fan Mil Plc, Tosett Agro Industries Limited and Chi Farms Limited
The bonds proceed is to fund the development of a 200,000 standard cubic meter per day Liquified Natural Gas (LNG) liquefaction facility, the installation of five regasification systems for customers, the procurement and installation of storage tanks with a total capacity of 2,150 cubic meters at both the liquefaction and regasification plants, and the acquisition of 16 LNG transport trucks with a capacity of 21.6 tonnes for logistics purposes.
On September 28, 2022, InfraFunding SPV Limited on behalf of Green Liquified Natural Gas (“GNLG”) issued a NGN 650 million 7-Year Series 1 Fixed Rate Guaranteed Senior Infrastructure Bonds Due in 2029 (“the GNLG Series 1 Bond”) under its NGN200 billion Debt Issuance Program and another bridge to bond issuance of NGN 4 billion.