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In its ongoing commitment to bolster natural gas utilization and augment Nigeria’s gas revenue, NNPC Ltd has executed two pivotal agreements aimed at delivering liquefied natural gas (LNG) to both the domestic and international markets. The signing ceremonies occurred during the United Nations Climate Change Conference (COP28). One Memorandum of Understanding (MoU) was inked with Wison Heavy Industry Co. Ltd, a Chinese firm, for a floating LNG project targeting the international market. Concurrently, NNPC Prime LNG Ltd, a subsidiary of NNPC Trading Ltd, entered a Supply, Installation, and Commissioning Agreement with SDP Services, an independent oil and gas company, for a 421 tonnes per day LNG initiative focused on the domestic market.

The Executive Vice President, Gas, Power & New Energy, Olalekan Ogunbayo and Mr. Kai Xu, Managing Director of Wison Ltd
The Executive Vice President, Gas, Power & New Energy, Olalekan Ogunbayo and Mr. Kai Xu, Managing Director of Wison Ltd

The Executive Vice President, Gas, Power & New Energy, Olalekan Ogunbayo, representing NNPC Ltd, and Mr. Kai Xu, Managing Director of Wison Ltd, signed the Floating LNG MoU, outlining their collaborative efforts to develop a roadmap leading to an investment decision. Simultaneously, the Managing Director of NNPC Trading Ltd., Mr. Lawal Sade, and Mr. Abhinav Modi, Managing Director of SDP Services Ltd, inked the Small-Scale LNG (SSLNG) Project agreement.

The SSLNG Project, slated for Ajaokuta in Kogi State, Central Nigeria, aims to efficiently supply LNG to Autogas/Compressed Natural Gas (CNG) and industrial/commercial customers nationwide, with an operational target of December 2024. According to Mr. Olalekan Ogunleye, EVP Gas, Power & New Energy at NNPC Ltd, these projects hold immense potential for nationwide impact, aligning with the company’s commitment to commercialize Nigeria’s abundant gas resources and fulfill the gas and power aspirations outlined by the country’s leadership.

Mr. Lawal Sade emphasized that the SSLNG Project would facilitate the domestication of LNG utilization, particularly supporting auto-gas initiatives and industrial growth, with an ambitious 12-month timeframe for execution to commissioning. The partners expressed their dedication to working closely with NNPC Ltd to ensure timely and cost-effective project delivery.

Categories: ChinAfrica

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