NNPC Limited @nnpclimited

PRESS RELEASE

At COP28 in Dubai, NNPC Ltd. Seals LNG Deals for Domestic, International Markets

…Agreement on 421 Tonnes Per Day Small-Scale LNG Project in Ajaokuta and MoU on Floating LNG

In its efforts to further boost natural gas utilization in the country and enhance Nigeria’s gas revenue, NNPC Ltd. has signed two major agreements to deliver LNG to the domestic gas market and the international LNG market.

During two separate signing ceremonies held on the sidelines of the on-going United Nation’s Climate Change Conference (also known as COP28), NNPC Ltd. signed an MoU with Wison Heavy Industry Co. Ltd, a Chinese company, for the development of floating LNG project in Nigeria, targeting the international LNG market.

Also, NNPC Prime LNG Ltd., an arm of NNPC Trading Ltd., signed a Supply, Installation and Commissioning Agreement with SDP Services, an independent oil and gas company, for a 421 tonnes per day LNG project targeting the domestic LNG market.

The Floating LNG MoU was signed by the Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye on behalf of NNPC Ltd and Mr. Kai Xu, Managing Director of Wison Ltd, on behalf of his company. Both parties agreed to work together to chart a roadmap for the project development that will lead to an investment decision.

Similarly, the Small-Scale LNG (SSLNG) Project agreement was signed by the Managing Director, NNPC Trading Ltd., Mr. Lawal Sade, on behalf of NNPC Prime LNG Ltd. while Mr. Abhinav Modi, Managing Director of SDP Services Ltd., signed on behalf of his company.

The SSLNG Project, which will be located at Ajaokuta in Kogi State, Central Nigeria, will ensure the efficient supply of LNG to the Autogas/Compressed Natural Gas (CNG) and industrial/commercial customers nationwide. The LNG Project is expected to be operational by December 2024.

Speaking shortly after the signing ceremony, the EVP Gas, Power & New Energy, Mr. Olalekan Ogunleye said NNPC Ltd. is committed to delivering gas to industries nationwide and accelerating the Company’s gas commercialisation efforts through the floating LNG Project.

“We see both projects as having enormous impact all over the country because they are central to the commercialisation of Nigeria’s abundant gas resources and ensuring that our country earns the much-needed foreign revenue from its abundant gas assets. It is also consistent with NNPC Management’s drive to deliver on Mr. President’s gas and power aspirations across the country,” Ogunleye stated.

Also, in his address after the signing, the MD NNPC Trading Ltd., Mr. Lawal Sade said the SSLNG Project will boost the domestication of LNG utilisation by supporting the growth of auto-gas initiatives across the country.

“We are looking at a timeframe of 12 months from execution to the commissioning of the project. The project will deliver about 420 tonnes per day of LNG per day into the domestic market, which will enhance efficient delivery of gas to the auto-gas/CNG and industrial customers in line with Presidential mandate,” Sade added.

While expressing their delight at signing the agreements, the partners pledged to work with NNPC Ltd. to deliver the projects within schedule and in the most cost-effective manner.

Olufemi O. Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja

My good friends at NNPCL now understand that work has just began,for the past 30 years what they were doing was not work.
The organisation became a middleman or agent for the sale of Nigerian crude oil without adding any value to it,now they must work for their money
I believe more of this deals will be signed over the next few months because like the Speaker of the House of Reps. said recently,their unclothedness will be shown to the world
Nigerians don't understand the power of our Crude oil,some people think it's only petrol,Diesel,Kerosene and Aviation fuel that comes from Crude oil
If only they know that about 14 different products come from crude oil and there are countries that earn all their income from one of this byproducts
Have you ever asked yourself what is called petroleum jelly aka vaseline produced by the pharmaceutical companies
NNPCL just started the real core values it was established for,to add value to our crude oil and be a competitive organisation like Aramco and not a middleman or agent

It has to work before I will commend anything about it. For now, in a criminal enterprise, one has to be careful with the likes of thîefnubu and his clueless propaganda minions.👀👀

Talo sope kopo

Why in the name of everything that is good and holy, is an LNG facility going to be located in Ajaokuta?!

until the local man is happy, comment reserved

If all the deals that are being signed right left back and center are going to benefit Nigerians it will be fine but majority of Nigeria deals are on paper.

Great 👍.
This country just has to work.
God bless Nigeria ✌️

Believe anything you may like to but this government is full of deceit, just a ploy to douse the tension on their wasteful spending going to Dubai.

..black man and natural resources.

The developed world is selling idea, inventions, weapons, finish productions and manpower. The blacks man is looking for natural resources to sell.

We're deceiving ourselves. Nigerian LNG is exported after upward payments & later gas for domestic use is imported from the US, Algeria etc. What kind of economy is that?

Believe anything you may like to but this government is full of deceit, just a ploy to douse the tension on their wasteful spending going to Dubai. Seimens deal up till today has not Materialised, Port Harcourt refinery earlier promised to start work by this December is still moribund with no date in sight.

kinguwem:
We're deceiving ourselves. Nigerian LNG is exported after upward payments & later gas for domestic use is imported from the US , Algeria etc. What kind of economy is that?

If you don't know, you ask for the difference between LNG and Gas for Domestic use.
Go recheck your claims ..

Ikaeniyan0:
IPOBdients in the mud

people like you are the reason why the country is still the way it is.It is because of people like you with hateful mind that is retarding the growth of this country.

Indeed

Great!
Tinubu awesome body language getting them all to be up and doing, soon: https://www.nairaland.com/7929097/why-naira-stengthen-against-dollar

naptu2:
NNPC Limited @nnpclimited

Will these deals benefit the poor or only for the unscrupulous politicians?

Mayorwwa:


oga calm down. no be everything be trabalism

Leave him let him continue.. very soon he will fade away like the rest of them.

That is nice....we thank God

wailing


over to ibo

Iykopee:
It has to work before I will commend anything about it. For now, in a criminal enterprise, one has to be careful with the likes of thîefnubu and his clueless propaganda minions.👀👀

People like you even if they see an angel on white they will still doubt it and say it's masquerade and not angel

This is the good things nigerians want to see happening for the country...not waste money buying SUV cars for national assembly members and politcians and spending 15 billion naira on renovating vice president house

Faiththatworks:
My good friends at NNPCL now understand that work has just began,for the past 30 years what they were doing was not work.
The organisation became a middleman or agent for the sale of Nigerian crude oil without adding any value to it,now they must work for their money
I believe more of this deals will be signed over the next few months because like the Speaker of the House of Reps. said recently,their unclothedness will be shown to the world
Nigerians don't understand the power of our Crude oil,some people think it's only petrol,Diesel,Kerosene and Aviation fuel that comes from Crude oil
If only they know that about 14 different products come from crude oil and there are countries that earn all their income from one of this byproducts
Have you ever asked yourself what is called petroleum jelly aka vaseline produced by the pharmaceutical companies
NNPCL just started the real core values it was established for,to add value to our crude oil and be a competitive organisation like Aramco and not a middleman or agent

writing like this dey give me joy






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abeg no hate dis guy ooo