JOHANNESBURG--August 14, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Gas-fired electricity generation could be a significant part of the answer to Nigeria's chronically dismal power-supply crisis. The Ministry of Energy has once again made promises that a solution is in sight -- this time by 2011. The promise is that a minimum of 16,000 megawatts (MW) and a maximum of 19,000 MW could be available to the national grid by that date. Currently only about 2,300 MW is available. The supply of a secure gas feed will be one of the keys to bringing existing thermal stations up to operating capacity and powering new generating capacity to the system. Addax Petroleum Corporation (OTC:ADXTF) (Calgary, Alberta) has stepped into this gas development scenario with consortium partners Chrome Oil Services, based in Nigeria, and Korea Gas Corporation (Kogas) (SEO:063460) (Seongnam, South Korea). The group has received the approval of Nigeria's federal government for a proposed integrated gas utilization project, which is in line with the national gas plan. The consortium plans to explore and develop gas fields in Nigeria.

Companies featured in this segment: KHD Humboldt Wedag International Limited (NYSE:KHD), Toyota Motor Corporation (NYSE:TM), Endesa (MCE:ELE), German Power Company E.ON (OTC:EONGY), Italian company Enel (BIT:ENEL), Addax Petroleum Corporation (OTC:ADXTF), Korea Gas Corporation (SEO:063460)