At the COP28 climate summit in Dubai, the Nigerian National Petroleum Company (NNPC) Ltd. has unveiled two significant agreements to deliver liquefied natural gas (LNG) to both the domestic and the international gas markets. NNPC Ltd. is demonstrating its dedication to the energy transition and the Paris Agreement at the summit.
The first deal is a Memorandum of Understanding (MoU) with the Dubai Electricity and Water Authority (DEWA) and the Dubai Supply Authority (DUSUP) to establish a floating LNG terminal in Dubai. The terminal will get LNG from NNPC Ltd.’s Brass LNG project in Nigeria and distribute it to DEWA’s power plants and DUSUP’s customers. The MoU was signed by NNPC Ltd.’s Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye and DEWA and DUSUP’s Chief Executive Officer, Mr. Kai Xu.
The second deal is a contract with the Ajaokuta Steel Company Limited (ASCL) to provide 421 tonnes per day of LNG to the steel plant in Kogi State, Nigeria. The LNG will be transported by road using cryogenic trucks from NNPC Ltd.’s Bonny LNG plant in Rivers State. The contract was signed by NNPC Ltd.’s Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye and ASCL’s Managing Director, Mr. Ismaila Abdul-Aziz.
These deals are part of NNPC Ltd.’s strategic vision to monetize Nigeria’s abundant gas resources, diversify its revenue streams, and support the country’s economic development and energy security. They are also in line with the UAE’s vision to become a global hub for clean energy and innovation, and to foster cooperation and partnership with African countries.
The Group Managing Director of NNPC Ltd., Mele Kyari, who witnessed the signing ceremonies, expressed his satisfaction at the successful conclusion of the deals. He said: “These are historic milestones for NNPC Ltd. and Nigeria as we seek to unlock the value of our gas resources and contribute to the global energy transition. We are proud to partner with the UAE and Dubai, who are leading the way in hosting a successful COP28 and demonstrating their commitment to climate action. We are also excited to work with ASCL, who are reviving the steel industry in Nigeria and creating jobs and opportunities for our people.”
He added that NNPC Ltd. will continue to pursue more opportunities to expand its LNG portfolio and market share, both domestically and internationally. He also reaffirmed NNPC Ltd.’s support for the Nigerian government’s ambition to reduce greenhouse gas emissions by 20% by 2030 and achieve net-zero emissions by 2060.
NNPC Ltd. is a dynamic global energy company with businesses and operations across the entire spectrum of the energy value chain. It is the largest oil producer and supplier in Africa, and a major player in the global LNG market. It is also investing in renewable energy, gas-to-power, carbon capture and storage, and other low-carbon solutions to meet the growing demand for clean and affordable energy.
Source : Leadership.ng, Thenigerianvoice, thewhistler.ng
