The Nigerian National Petroleum Company Limited (NNPC) has inked an agreement to supply Liquefied Natural Gas (LNG) to both the domestic and international markets.
These landmark deals were formalized during separate signing ceremonies held on the sidelines of the United Nations Climate Change Conference.
NNPC disclosed that one agreement, an MoU with Wison Heavy Industry Co. Ltd, a Chinese company, focuses on developing floating LNG projects in Nigeria, targeting the international LNG market.
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Simultaneously, NNPC Prime LNG Ltd, a subsidiary of NNPC Trading Ltd, sealed a Supply, Installation, and Commissioning Agreement with SDP Services, an independent oil and gas company, for a 421 tonnes per day LNG project directed towards the domestic LNG market.
During the signing, Mr. Olalekan Ogunleye, NNPC’s Executive Vice President for Gas, Power, and new Energy, expressed the commitment to gas delivery across industries nationwide.
“These projects have enormous impact potential nationwide and are pivotal for commercializing Nigeria’s abundant gas resources, thereby generating essential foreign revenue,” Ogunleye remarked.
The Floating LNG MoU was formalized by Mr. Olalekan Ogunleye on behalf of NNPC Ltd and Mr. Kai Xu, Managing Director of Wison Ltd, on behalf of his company.
The small-scale LNG project agreement was signed by Mr. Lawal Sade, Managing Director of NNPC Trading Ltd., and Mr. Abhinav Modi, Managing Director of SDP Services Ltd.
NNPC disclosed that the Small-Scale LNG Project, situated in Ajaokuta, Kogi State, Central Nigeria, will ensure efficient LNG supply to autogas/Compressed Natural Gas and industrial/commercial customers nationwide. The LNG project is slated for operation by December 2024.