A.P. Moller Capital Sells Powergas to Ardova Plc Expanding Nigeria’s CNG Infrastructure
News related to:Powergas · 2 min read
COPENHAGEN, Denmark and LAGOS, Nigeria, Sept. 25, 2026 /CourierPR/ -- A.P. Moller Capital is selling its investment in Powergas to a consortium led by Ardova Plc and Diadem Energy, marking a significant milestone in the development of Nigeria’s compressed natural gas (CNG) industry. The deal, which is expected to be completed around the end of 2026, will see Powergas, one of Africa’s largest CNG producers and virtual pipeline distributors, transition to new ownership as it continues to expand its reach and impact.
Powergas, founded in 2013 by the Clean Energy Group, has made significant strides under the ownership of A.P. Moller Capital. Through its Africa Infrastructure Fund I, A.P. Moller Capital invested in Powergas in April 2019, supporting the business through development, construction, commissioning, and operational scale-up. By 2020, Powergas Ebedei Limited, a key component of the business, had commenced operations with its Ebedei compression plant, which was commissioned in 2021. Since then, the company has expanded its distribution across southern Nigeria, creating 175 direct jobs and contributing to the reduction of gas flaring and the displacement of diesel-fired power generation.
Ardova Plc, a Nigerian integrated energy and infrastructure company with a nationwide footprint, plans to leverage its extensive retail fuels, liquefied petroleum gas (LPG), shipping, aviation fuel, lubricants, and logistics network to expand Powergas’ CNG infrastructure. The transaction will add a natural gas platform to Ardova’s existing petroleum products and LPG businesses, positioning the company to become a leading domestic gas infrastructure and gas monetisation partner for upstream producers. Ardova aims to deploy 100 CNG refuelling sites nationwide within 24 months, supporting Nigeria’s drive to increase domestic gas utilisation and reduce emissions.
Dr. AbdulWasiu Sowami, Executive Chairman of Ardova Plc, expressed optimism about the future of the combined platform.
Kim Fejfer, Managing Partner and CEO at A.P. Moller Capital, highlighted the success of the investment.
The transaction is expected to position Ardova to play a leading role in delivering Nigeria’s Auto-Gas vision, with plans to extend the platform into the wider West African market. The deal underscores the growing importance of CNG in Nigeria’s energy landscape and the potential for cross-industry collaboration to drive sustainable development.
Powergas, which operates four mother stations and a fleet of over 250 tube skids, has been at the forefront of taking natural gas beyond the pipeline grid. The company’s environmental and social impact is twofold: it captures gas that would otherwise be flared and supplies it to industrial and commercial customers, many of whom use it in place of diesel generators, reducing emissions both where the gas is produced and where it is used.