Victoria Oil & Gas completes Cameroon pipeline ahead of schedule

19th Jan 2015 14:41

Victoria Oil & Gas has completed laying the gas pipeline to the boundaries of two ENEO power stations at Bassa and Logbaba ahead of schedule, the firm said on Monday.Gaz du Cameroun said the pipeline was currently being tested and that it expects the trial phase to be completed within next week.Late in 2014, Victoria's subsidiary agreed a two-year deal with utility company ENEO Cameroon to supply the Bassa and Logbaba power stations for $9 per million British Thermal Unit, with a gas consumption expected to be 10.1m square feet a day.Victoria said it was confident Gaz du Cameroun will complete the work before the March deadline, by which point ENEO will require both the 20 megawatt Bassa power station and and 30 megawatt Logbaba power station to be fully operational.Victoria shares were up 3.94% to 56.65 at 14:52 on Monday.