The Nigerian National Petroleum Company Limited (NNPC Ltd) has commenced discussions with a South Korean consortium led by Daewoo E & C regarding the development of gas projects in Nigeria.
Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd, announced in a statement on Tuesday that the talks held in Seoul, South Korea, aimed to deepen NNPC Ltd’s efforts in harnessing Nigeria’s vast gas resources to become a supplier of clean and affordable energy to the global market.
South Korea, a significant destination for Liquefied Natural Gas (LPG) exports, has shown interest in collaborating with the consortium, along with the Korean Export-Import Bank, to advance discussions on investing in greenfield and other gas development opportunities in Nigeria.
Soneye stated that the discussions would lead to the execution of a Memorandum of Understanding (MoU), facilitating strategic foreign direct investment in alignment with the policies of the administration led by President Bola Ahmed Tinubu to position Nigeria as a prime destination for global investors.
In addition, Mele Kyari, the Group Chief Executive Officer of NNPC Ltd, commended Temile Development Company, an indigenous player in the gas sector, for the commissioning of its 23,000 cubic meters ultra-modern Liquefied Petroleum Gas (LPG) Carrier in Ulsan, South Korea on Tuesday.
Kyari emphasized that the vessel, named Alfred Temile 10, signified a significant stride towards enhancing gas utilization within the country and increasing gas revenues.
“It is great that Temile Development Company is able to complete the construction of the 23kt LPG vessel. This will go a long way in improving access to LPG in the domestic market and providing cleaner fuel in our country,” Kyari stated.
He highlighted NNPC Ltd’s collaboration with its partner, West Africa Gas Ltd (WAGL), in constructing vessels aimed at boosting LPG supply in Nigeria to meet market demand.
