Ardova Plc to Acquire Powergas in Strategic Deal
A consortium led by Ardova Plc, which includes Diadem Energy, has agreed to acquire Powergas Global Investments Nigeria Limited and Powergas Ebedei Limited, collectively known as Powergas. This transaction, announced on September 28, 2026, is expected to close by the end of 2026.
A.P. Moller Capital is exiting its stake in Powergas, a major player in compressed natural gas production and distribution in Africa.
Founded in 2013 by the Clean Energy Group, Powergas has developed a "virtual pipeline" model to transport natural gas to customers beyond Nigeria's fixed pipeline grid. The company operates four mother stations and has delivered over 600 million standard cubic metres of CNG as of December 2025.
Ardova's acquisition will enhance its existing downstream portfolio and align with Nigeria's Decade of Gas initiative and President Bola Tinubu’s Presidential Initiative on Compressed Natural Gas and Electric Vehicles. Ardova plans to establish 100 CNG refuelling sites within 24 months, aiming to provide lower-emission energy and reduce transportation costs.
Plus234Feed summary based on reporting from Punch Newspapers. Read the original report below.
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