Sunday, August 24, 2025
Home Business NNPC LTD SEALS LNG DEALS FOR DOMESTIC, INTERNATIONAL MARKETS AT COP28 IN...

NNPC LTD SEALS LNG DEALS FOR DOMESTIC, INTERNATIONAL MARKETS AT COP28 IN DUBAI

In its efforts to further boost natural gas utilization in the country and enhance Nigeria’s gas revenue NNPC Ltd has signed two major agreements to deliver LNG to the domestic gas market and the international LNG market.
During two separate signing ceremonies held on the sidelines of the on-going United Nation’s Climate Change Conference (also known as COP28), NNPC Ltd signed an MoU with Wison Heavy Industry Co. Ltd, a Chinese company, for the development of floating LNG project in Nigeria, targeting the international LNG market.
Also, NNPC Prime LNG Ltd, an arm of NNPC Trading Ltd, signed a Supply, Installation and Commissioning Agreement with SDP Services, an independent oil and gas company, for a 421 tonnes per day LNG project targeting the domestic LNG market.
The Floating LNG MoU was signed by the Executive Vice President, Gas, Power & New Energy, Olalekan Ogunbayo on behalf of NNPC Ltd and Mr. Kai Xu, Managing Director of Wison Ltd, on behalf of his company. Both parties agreed to work together to chart a roadmap for the project development that will lead to an investment decision.
Similarly, the Small-Scale LNG (SSLNG) Project agreement was signed by the Managing Director, NNPC Trading Ltd., Mr. Lawal Sade, on behalf of NNPC Prime LNG Ltd while Mr. Abhinav Modi, Managing Director of SDP Services Ltd, signed on behalf of his company.
The SSLNG Project, which will be located at Ajaokuta in Kogi State, Central Nigeria, will ensure the efficient supply of LNG to the Autogas/Compressed Natural Gas (CNG) and industrial/commercial customers nationwide. The LNG Project is expected to be operational by December 2024.
Speaking shortly after the signing ceremony, the EVP Gas, Power & New Energy, Olalekan Ogunleye said NNPC Ltd is committed to delivering gas to industries nationwide and accelerating the Company’s gas commercialization efforts through the floating LNG Project.
“We see both projects as having enormous impact all over the country because they are central to the commercialization of Nigeria’s abundant gas resources and ensuring that our country earns the much-needed foreign revenue from its abundant gas assets. It is also consistent with NNPC Management’s drive to deliver on Mr. President’s gas and power aspirations across the country,” Ogunleye stated.
Also, in his address after the signing, the MD NNPC Trading Ltd,  Lawal Sade said the SSLNG Project will boost the domestication of LNG utilisation by supporting the growth of auto-gas initiatives across the country.
“We are looking at a time-frame of 12 months from execution to the commissioning of the project. The project will deliver about 420 tonnes per day of LNG per day into the domestic market, which will enhance efficient delivery of gas to the auto-gas/CNG and industrial customers in line with Presidential mandate,”.
While expressing their delight at signing the agreements, the partners pledged to work with NNPC Ltd to deliver the projects within schedule and in the most cost-effective manner.
RELATED ARTICLES

CUSTOMS, ICPC STRENGTHEN ANTI-CORRUPTION DRIVE WITH SENSITISATION PROGRAMME.

  The Nigeria Customs Service (NCS) has reaffirmed its commitment to transparency and accountability through a sensitisation programme organised in partnership with the Independent Corrupt...

NEPZA, NDLEA STRENGTHEN PARTNERSHIP TO ENHANCE FREE TRADE ZONES OPERATIONS.

  The Nigeria Export Processing Zones Authority (NEPZA) and the National Drug Law Enforcement Agency (NDLEA) have reaffirmed their commitment to closer collaboration in order...

NAICOM COMMENCES IMPLEMENTATION OF NEW CAPITAL REQUIREMENTS FOR INSURANCE SECTOR.

  The National Insurance Commission (NAICOM) has announced the commencement of the recapitalisation exercise for all insurance and reinsurance companies in Nigeria, following the enactment...

Most Popular

GANDUJE FOUNDATION EXPANDS COMMUNITY OUTREACH IN KANO.

  Former APC National Chairman and ex-Governor of Kano, Dr. Abdullahi Umar Ganduje, inspected ongoing projects in Ungoggo and Nasarawa LGAs. They include a Juma’at mosque...

NAF NEUTRALISES OVER 35 TERRORISTS IN NORTH-EAST OPERATION.

The Nigerian Air Force (NAF) says its air component of Operation Hadin Kai (OPHK) has neutralised more than 35 terrorists near the Nigeria–Cameroon border. The...

NIGERIAN ARMY REAFFIRMS COMMITMENT TO TROOPS’ WELFARE AS PHDL ENGAGES MEDIA.

The Nigerian Army has reiterated its commitment to improving the welfare of its personnel, with particular emphasis on providing affordable and quality housing. This assurance...

CUSTOMS, ICPC STRENGTHEN ANTI-CORRUPTION DRIVE WITH SENSITISATION PROGRAMME.

  The Nigeria Customs Service (NCS) has reaffirmed its commitment to transparency and accountability through a sensitisation programme organised in partnership with the Independent Corrupt...

Recent Comments