- Saturday, May 4, 2024
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The
Nigerian National Petroleum Company Limited (NNPC), Limited has held talks with
a South Korean consortium led by Daewoo E & C on the development of gas projects
in Nigeria.
The
discussions which held in Seoul, South Korea, were aimed at deepening NNPC
Limited’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 greenfields and other gas
development opportunities.
The
talks will pave the 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.
Group
Chief Executive Officer of NNPC Ltd., Mele Kyari has also congratulated Temile
Development Company, an indigenous player in the gas sector, on the
commissioning of its 23,000-cubic-metres ultra-modern Liquefied Petroleum Gas
(LPG) Carrier in Ulsan, South Korea today.
According
to Kyari, the vessel named Alfred Temile 10 represents a significant stride towards
deepening the utilisation of gas in-country and growing gas revenues.
“It
is great that Temile Development Company is able to complete the construction
of 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 biomass as a source of energy. We know this is good and that is why we
will continue to support it”, he expressed.
Kyari,
disclosed that NNPC Ltd., alongside its partner West Africa Gas Ltd. (WAGL),
was building its own vessels which will boost LPG supply in Nigeria with a view
to saturating the market.
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