The Nigerian National Petroleum Company Limited (NNPCL) has initiated discussions with a South Korean consortium led by Daewoo E & C regarding potential collaborations on gas development projects in Nigeria.
The talks, which took place in Seoul, South Korea, are part of NNPCL’s efforts to leverage Nigeria’s abundant gas resources to become a key provider of clean and affordable energy on the global market.
In a statement released in Abuja, NNPCL highlighted South Korea as a significant destination for Liquefied Natural Gas (LNG) exports. The consortium, in partnership with the Korean Export-Import Bank, has expressed interest in advancing discussions related to investing in greenfield and other gas development opportunities in Nigeria.
The outcomes of these talks are expected to lead to the signing of a Memorandum of Understanding, facilitating strategic foreign direct investment aligned with the Federal Government’s goal of positioning Nigeria as a prime destination for global investors.
Meanwhile, NNPCL’s Group Chief Executive Officer, Mele Kyari, extended congratulations to Temile Development Company, a local 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.
Kyari commended the completion of the vessel, named Alfred Temile 10, emphasizing its significance in promoting the use of gas within Nigeria and contributing to increased gas revenues. He reiterated Nigeria’s commitment to providing access to clean energy, reducing reliance on biomass, and supporting projects that align with these objectives.
Additionally, Kyari disclosed that NNPCL, in collaboration with its partner West Africa Gas Ltd, is in the process of constructing its vessels, aiming to enhance LPG supply in Nigeria and meet market demands.
NNPCL, as a state-owned enterprise playing a pivotal role in Nigeria’s gas sector, has been actively involved in exploration and development activities in various gas fields across the country, including Ajaokuta, Escravos, and Zabazaba fields. The company continues to seek collaborations with both local and international entities to drive investments in the Nigerian gas industry.
