NNPCL woos South Korean investors for gas projects

The Nigerian National Petroleum Company Limited (NNPCL) has held talks with a South Korean consortium led by Daewoo E&C on the development of gas projects in Nigeria.

It said the discussion is aimed at deepening NNPCL’s drive to be a supplier of clean and affordable energy to the global market.

The Group Chief Executive Officer (GCEO), NNPCL, Mele Kyari, during the discussion held in Seoul, South Korea, said the East Asian country is a major destination for Liquefied Natural Gas exports and the consortium.

He said the talks will pave way for the execution of a Memorandum of Understanding (MoU) that will unlock strategic foreign direct investment in line with the President Bola Tinubu administration’s policy of making Nigeria a prime destination for global investors.

Similarly, Kyari commended 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.

According to the GCEO, the vessel, named Alfred Temile 10, represents a significant stride towards deepening the utilisation of gas in-country and growing gas revenues.

Kyari said, “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 providing 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 disclosed that NNPCL, 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.