The Nigerian National Petroleum Corporation (NNPC) Limited has successfully closed significant agreements during the ongoing COP28 climate change summit in Dubai.
On December 6, 2023, NNPC announced its accomplishment in sealing two major deals, emphasizing the development of liquefied natural gas (LNG) projects for both domestic and international markets.
One of the agreements involves a Memorandum of Understanding (MoU) with Wison Heavy Industry Co. Ltd, a Chinese company, for the establishment of a Floating LNG project in Nigeria.
This project aims to target the international LNG market and was signed by the Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye, and Mr. Kai Xu, Managing Director of Wison Ltd.
Additionally, NNPC Prime LNG Ltd., a subsidiary of NNPC Trading Ltd., signed a Supply, Installation, and Commissioning Agreement with SDP Services, an independent oil and gas company.
This agreement pertains to a 421 tonnes per day Small-Scale LNG (SSLNG) project located in Ajaokuta, Kogi State, Central Nigeria.
The SSLNG project is designed to efficiently supply LNG to Autogas/Compressed Natural Gas (CNG) and industrial/commercial customers nationwide, with an expected operational date of December 2024.
The NNPC representatives expressed their commitment to enhancing natural gas utilization in Nigeria, boosting gas revenue, and aligning with the country’s gas and power aspirations.
Both projects are seen as pivotal in the commercialization of Nigeria’s abundant gas resources and the generation of essential foreign revenue.
The partners involved pledged to collaborate closely with NNPC to ensure the timely and cost-effective completion of these projects.
