Victor EzejaIn a move to harness Nigeria’s abundant gas resources for global energy markets, the Nigerian National Petroleum Company Limited (NNPCL) has engaged in discussions with a South Korean consortium led by Daewoo E & C.
The talks, held in Seoul, focused on potential collaborations to develop greenfield gas projects, with a keen interest in liquefied natural gas (LNG) exports, a major industry in South Korea.
NNPCL, eyeing foreign direct investment, aims to solidify the discussions into a Memorandum of Understanding, aligning with the Federal Government’s policy to attract global investors. Mele Kyari, CEO of NNPCL, lauded Temile Development Company’s achievement in commissioning a modern Liquefied Petroleum Gas (LPG) carrier in South Korea, emphasizing its contribution to domestic gas utilization.
Kyari stated: “Nigeria’s objective is to ensure that everyone has access to clean energy and particularly walk away from biomass as a source of energy.”
He highlighted NNPCL’s commitment, alongside partner West Africa Gas Ltd, to build vessels that will enhance LPG supply, saturating the Nigerian market.
The CEO disclosed ongoing projects in various gas fields across Nigeria, reinforcing the nation’s gas reserves and production capacity. NNPCL’s strategy involves enticing both local and international firms to invest in the gas sector, further strengthened by joint venture agreements with international oil companies like Shell Petroleum Development Company and Nigerian Agip Oil Company.
As part of its pivotal role in the Nigerian gas sector, NNPCL operates gas processing plants, including the Escravos and Bonny Gas Processing Plants. These facilities play a crucial role in purifying natural gas for efficient transportation and utilization, aligning with Nigeria’s broader goal of providing cleaner and more accessible energy.
The discussions with the South Korean consortium mark a step toward positioning Nigeria as a key player in the global clean energy landscape, fostering partnerships that will shape the future of the nation’s energy sector.
