NNPC, WAGC, Temile build LPG carriers
- Signs MOU on gas projects
Sopuruchi Onwuka
Nigeria is working up its position in the global gas liquids supply niche with more trading vessels underway to bridge supply gaps between the domestic and international fuel markets.
According to the Nigerian National Petroleum Company (NNPC) Limited, two supply vessels are underway to deepen the participation of the country in the supply of liquefied petroleum gas (LPG) popularly called cooking gas.
Group Chief Executive Officer (GCEO), Mallam Mele Kyari, stated in Ulsan, South Korea, that the national oil company and its partner, West Africa Gas Ltd (WAGL), are building own vessels to boost and saturate the Nigeria market with LPG supply.
Mallam Kyari also congratulated an indigenous player in the gas sector, Temile Development Company, on the commissioning of its 23,000 cubic meters ultra-modern Liquefied Petroleum Gas (LPG) Carrier in Ulsan, South Korea.
According to him, the vessel named, Alfred Temile 10, represents a significant stride towards deepening the utilization of gas in the country.
“It is great that Temile Development Company is able to complete the construction 23kt LPG vessel. This will go a long way in improving access to LPG in the domestic market and provide cleaner fuel in our country. Nigeria’s objective is to ensure that everyone has access to clean energy and particularly walk away from bio-mass as a source of energy. We know this is good and that is why we will continue to support it,” he stated.
The NNPC Limited was also in Seoul to hold talks with a South Korean consortium led by Daewoo E & C on the development of gas projects in Nigeria.
The discussions aimed at deepening NNPC’s drive to tap into the nation’s vast gas resources to be a supplier of clean and affordable energy to the global market.
South Korea is a major destination for Liquefied Natural Gas exports and the consortium, in collaboration with the Korean Export-Import bank, has expressed interest in advancing discussions on investing in gas development opportunities.
The talks will pave way for the execution of a Memorandum of Understanding (MoU) that will unlock strategic foreign direct investment in line with the President Bola Ahmed Tinubu administration’s policy of making Nigeria a prime destination for global investors.
