The Group Chief Executive Officer (GCEO), Nigerian National Petroleum Company (NNPC) Ltd., Mr Mele Kyari, says the company will utilise Nigeria’s abundant gas resources to revolutionise the nation’s power and industrial sector.
Kyari said this in Abuja at a Shareholders Agreement (SHA) signing between the NNPC Ltd., UTM Offshore (an indigenous company) and Delta State Government, on the development of the first Floating Liquefied Natural Gas (FLNG) facility in Nigeria.
He said in a statement that gas would be used to bring revolution in Nigeria in the next two to three years as they were already progressing on the initiatives to bring gas to the domestic market.
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“Our backbone infrastructures are almost ready to ensure we achieve that. Once that happens, we will see the immediate impact on the power sector, gas-based industries and several collateral values this will create,” the GCEO said.
Describing the FLNG project as a task that must be done, Kyari said Nigeria’s abundant gas resources have been under-utilised, adding that the new focus would monetise such gas resources for national and global benefit.
According to him, the FLNG Project clearly fits into the Federal Government’s gas aspirations under the Decade of Gas Initiative and in line with Mr President’s agenda to create a gas hub to maximise value for prosperity.
Reiterating NNPC Ltd.’s commitment towards the project, Kyari said the FLNG was the first of its kind that the company was taking keen interest in.
Kyari also said NNPC Ltd. had equity in the project.
“There are several Floating LNGs that we are promoting, including fixed LNG projects. We are happy to collaborate with the Delta State Government. We will take practical steps to deliver this project on schedule and at the best possible cost,” the GCEO added.
Earlier in his remarks, the Group Managing Director of UTM Offshore Limited, Mr Julius Rone, described the SHA execution as another significant milestone in actualising Nigeria’s first indigenous FLNG.
He commended President Bola Tinubu for his dedication towards developing the Nation’s gas resources, as exemplified in the recently held COP28 Conference in Dubai, UAE.
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