₦airaland Forum

NNPC Limited @nnpclimited

PRESS RELEASE

NNPC Ltd Moves to Revive Brass, OK LNG Projects

In its continued bid to maximise the nation’s abundant gas resources for economic development and prosperity, NNPC Ltd. has begun discussions with investors towards bringing back two Liquefied Natural Gas (LNG) projects, Brass and Olokola LNG projects.

NNPC Ltd.’s Chief Financial Officer (CFO), Mr. Umar Ajiya disclosed this on the sidelines of the ongoing 2024 Gas Technology Conference and Exhibition (Gastech), in Houston, United States, on Thursday.

Brass LNG and OK LNG are two LNG projects with the potential of manifold economic benefits for the country which include job creation, power generation, revenue generation and economic diversification. The multi-billion-dollar projects were however stalled due to unfavourable market dynamics and slow decision-making by the political class in the past.

"In the past, gas prices went down, the economics of the projects meant a high Capital Expenditure (CAPEX), and this was a dis-incentive for investors and partners. Also, there was slow decision-making by the political class," the CFO added.

While describing NNPC Ltd. as a commercially driven Company which recognises timely project development and execution, the CFO said there are abundant gas resources in many parts of the world and therefore, the earlier Nigeria makes smart decisions to bring partners to the table, the better.

Ajiya commended President Bola Ahmed Tinubu for his support in driving new projects in the Industry through the Presidential Executive Orders on Oil & Gas Reforms.

"We are also happy to have the Petroleum Industry Act, 2021 (PIA) which has provided fiscal incentives for investors and is creating the enabling environment that has rekindled hope in the energy sector."

Ajiya described Gastech as an avenue for NNPC Ltd. to learn new technologies which will help the Company decarbonise its operations and promote its abundant LNG resources to the global market.

Gastech is the world’s leading forum dedicated to delivering a more sustainable energy future by bringing together experts who brainstorm to create pathways towards global energy security for lasting climate impact.

Olufemi Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja

20th September, 2024

Brass LNG project was suppose to start in 2006. I doubt Tinubu government can build the two project.

Story story o

Ebimpawa ooooo

Revive this and that since Pa OBJ Government till now .


THIEVES

Tade

They should revive the refineries they've spent billions of dollars on and stop telling us nonsense
Cooking gas has gone out of the reach of the common Man under these clueless people.
Nigeria is the only country in the world where gas price has jumped by over 1000% in the last ten years. Sey na subsidy removal cause that one too?

Another money pit

Kukutenla:
They should revive the refineries they've spent billions of dollars on and stop telling us nonsense
Cooking gas has gone out of the reach of the common Man under these clueless people.
Nigeria is the only country in the world where gas price has jumped by over 1000% in the last ten years. Sey na subsidy removal cause that one too?

Naira devaluation, oya use your head

id4sho:
Naira devaluation, oya use your head

Naira devaluation for something produced in our backyard??

NNPCL, please revive your computer application network systems so that your external contractors can work. Since this year system is down. System is down. Yeye company

Kukutenla:
Naira devaluation for something produced in our backyard??

It's sold at international price, oya use your head

That's why petrol, kerosene, diesel, LPG prices are almost the same. E get why 🔥💯

id4sho:
It's sold at international price, oya use your head

That's why petrol, kerosene, diesel, LPG prices are almost the same. E get why

And it will continue to have ripple effect on the price of garri. Nobody should question garri sellers on the correlation between garri and dollars.

NNPCL should go to lake chad
The NNPCL should be decentralized according to regions in the country,refineries in rivers and delta states should be handed over to the south south development commission,as from now henceforth,nobody should harrass anybody based on artisanal refining since the legal one refused to work in the niger delta region

id4sho:
It's sold at international price, oya use your head

That's why petrol, kerosene, diesel, LPG prices are almost the same. E get why 🔥💯

What is international price for petrol?
What is international price for diesel
What is international price for kerosene
What is international price for LPG
Who sets these prices?

Cooking gas should be affordable for all

Kukutenla:
What is international price for petrol?
What is international price for diesel
What is international price for kerosene
What is international price for LPG
Who sets these prices?

Prizes vary according to various jurisdiction.
Typically btw 0.5$-0.7$ for west African market and a bit higher if it's Bonny light. I guess you know crude oil mining is prized in dollars!!!
Crude oil barrels is prized in dollars!!!
By products is prized in dollars too !!!

And you've heard of subsidy which made things cheaper, though still paid partially on petrol and that's why NNPC is the sole lifter of petrol from dangote refinery.

Newsmills:
NNPCL should go to lake chad
The NNPCL should be decentralized according to regions in the country,refineries in rivers and delta states should be handed over to the south south development commission,as from now henceforth,nobody should harrass anybody based on artisanal refining since the legal one refused to work in the niger delta region

When NNPC and some geography/geology lecturers are still missing till day around lake Chad by Boko Haram

id4sho:
Prizes vary according to various jurisdiction.
Typically btw 0.5$-0.7$ for west African market and a bit higher if it's Bonny light. I guess you know crude oil mining is prized in dollars!!!
Crude oil barrels is prized in dollars!!!
By products is prized in dollars too !!!

And you've heard of subsidy which made things cheaper, though still paid partially on petrol and that's why NNPC is the sole lifter of petrol from dangote refinery.

You can't give the international price for those products to show that they are all the same as you claimed neither can you tell us who sets the price.
You're writing rubbish.
The price of LPG in the US on average is 0.75 per litre
The price of gasoline is 0.89 on average
LPG price in Russia is 0.32
Gasoline price in Russia is 0.64
So again who is setting the prices you claimed are "international"
Meanwhile LPG in Nigeria is average N1300 which is about 0.79 dollars meaning LPG that we get in our backyard is more expensive than even in US!!

Kukutenla:
You can't give the international price for those products to show that they are all the same as you claimed neither can you tell us who sets the price.
You're writing rubbish.
The price of LPG in the US on average is 0.75 per litre
The price of gasoline is 0.89 on average
LPG price in Russia is 0.32
Gasoline price in Russia is 0.64
So again who is setting the prices you claimed are "international"
Meanwhile LPG in Nigeria is average N1300 which is about 0.79 dollars meaning LPG that we get in our backyard is more expensive than even in US!!

various jurisdiction and I still gave you for west African market.
What else do you want

ObosiLandlord:
Brass LNG project was suppose to start in 2006. I doubt Tinubu government can build the two project.

It's a small thing to do if the will is put into it. The money to kick start it is never a problem after all it's a JV .

bixton:
It's a small thing to do if the will is put into it. The money to kick start it is never a problem after all it's a JV .

It's not a small thing to do. It will cost about $30 billion dollar or more to construct the two NLNG projects. The Brass project will cost about $20 billion while the Olokola project will cost about $10 billion.

id4sho:
When NNPC and some geography/geology lecturers are still missing till day around lake Chad by Boko Haram

NNPCL Mele Kyari is from bornu let him go to lake chad, is lake chad not part of nigeria,niger delta region had sustained the entire country in good faith for long,lets look elsewhere,niger delta people are not slaves

Kukutenla:
Naira devaluation for something produced in our backyard??

All the equipment, technology and expatriate manpower used to develop the gas, did you pay them in Naira?

Now you know the benefit of having a functional steel industry, which we don't have.

ObosiLandlord:
It's not a small thing to do. It will cost about $30 billion dollar or more to construct the two NLNG projects. The Brass project will cost about $20 billion while the Olokola project will cost about $10 billion.

As far as I'm conecrned such money is not a problem for Nigeria to have or get. It's the smallest thing.
The only thing which is not a small thing is the "will" to do the project by the leadership, by the President.

COMPAQ:
All the equipment, technology and expatriate manpower used to develop the gas, did you pay them in Naira?

Now you know the benefit of having a functional steel industry, which we don't have.

Majority of the LPG we use in Nigeria is imported. Less than 30% is produce in Nigeria

bixton:
As far as I'm conecrned such money is not a problem for Nigeria to have or get. It's the smallest thing.
The only thing which is not a small thing is the "will" to do the project by the leadership, by the President.

I don't want to believe you're a clown

ObosiLandlord:
I don't want to believe you're a clown

Only a clown knows another to be called by the name.

U see dis coy called Nnpc......don't take Deir word serious

Lol. Clowns that couldn't revive its refineries in 30 years.

This same useless NNPC? Have they ever successfully revived anything?

naptu2:
NNPC Limited @nnpclimited

please you people should do,no peace for a hungry man like me

Anytime these ones need money to embezzle...they'll just whip up one moribund project and begin to use ut draw billions..when they're not looking for oil in impossible places...now it's olokola....may God help us