By Our Correspondent<\/p>\n
The Nigerian National Petroleum Company Limited (NNPC Ltd.) and several upstream gas suppliers have signed a 20-year Gas Supply agreements, (GSAs) with the Nigeria Liquefied Natural Gas Limited (NLNG) for the delivery of 1.29 billion standard cubic feet per day (bscf\/d) of Feedgas.<\/p>\n
A statement\u00a0 issued and signed by the Company, and made available to the media noted that the duration with
\nextension options, were signed at the NNPC Towers in Abuja on Friday by the NLNG and Amni International Petroleum Development Company Limited; Sunlink Energies and Resources Limited; First Exploration & Petroleum Development Company Limited; SNEPCo; NNPC Gas Marketing Limited; NNPC E&P Limited; Shell Nigeria Gas
\nSolutions Limited; Oando Group; and Aradel Holdings.<\/p>\n
The statement also explained that the agreements which is\u00a0 aimed at bridging the prolonged shortfall in upstream gas availability, marks a major boost for Nigeria\u2019s energy transition agenda and the Federal Government\u2019s gas reforms aimed at strengthening the nation’s economic prosperity and energy security.<\/p>\n
Speaking at the signing ceremony, the Group Chief Executive Officer of
\nNNPC Ltd., Engr. Bashir Bayo Ojulari, commended NLNG\u2019s shareholders and the Federal Government for their long-term commitment to value delivery
\ndespite the challenges faced over the years.<\/p>\n
He described the agreements as a giant step towards value creation and sustainable gas supply.<\/p>\n
\u201cThese GSAs have opened up opportunities for the growth of our industry both for local and international development. They\u2019re hinged on collaboration, synergies and opportunities. We need to leverage economies of scale, share risk and opportunities for us to attain Mr. President\u2019s Decade
\nof Gas vision,\u201d he said.<\/p>\n
He commended\u00a0 President Bola Ahmed Tinubu for fostering an enabling environment and encouraging private sector support, particularly through Executive Orders targeted at gas development and ease of doing business.<\/p>\n
\u201cIt is important to commend the President\u2019s tremendous effort that has enabled the business through the issuance of Executive Orders targeted at gas developments and ease of doing business,\u201d.<\/p>\n
The GCEO reaffirmed NNPC Ltd.\u2019s readiness to accelerate the realisation of the Presidential Executive Orders for the industry, pledging to work with partners to unlock opportunities for collective prosperity, in line with the national gas development targets for incremental production.<\/p>\n
NLNG Managing Director Philip Mshelbila noted that the agreements will enhance local gas production capacity, improve supply reliability, and advance the nation’s energy security, industrialization aspirations, and economic growth, as he hailed the GSAs as a game-changer for Nigeria\u2019s gas industry,<\/p>\n
“We could not have achieved this sooner without the deliberate and
\nconcerted efforts of our shareholders and stakeholders in the energy industry in Nigeria. These agreements are a turning point in NLNG\u2019s journey, restoring reliability of supply and ensuring we remain firmly on the path of
\ngrowth and expansion,” Mshelbila noted.<\/p>\n
According to him, the new GSAs reinforce Nigeria\u2019s role in the global energy market while strengthening feed gas supply to the Bonny Island plant and supporting the company\u2019s expansion drive.<\/p>\n
Mshelbila described the agreements as a turning point in NLNG’s journey, restoring reliability of supply and ensuring the company remains on the path of growth and expansion.<\/p>\n
The release described the Nigeria LNG Limited (NLNG) as an incorporated joint venture (IJV), with NNPC Ltd holding 49%, Shell Gas 25.6%, TotalEnergies 15%, and Eni International 10.4%.<\/p>\n","protected":false},"excerpt":{"rendered":"
By Our Correspondent The Nigerian National Petroleum Company Limited (NNPC Ltd.) and several upstream gas suppliers have signed a 20-year Gas Supply agreements, (GSAs) with the Nigeria Liquefied Natural Gas Limited (NLNG) for the delivery of 1.29 billion standard cubic feet per day (bscf\/d) of Feedgas. A statement\u00a0 issued and signed by the Company, and […]<\/p>\n","protected":false},"author":2,"featured_media":6587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[4195,4193,4196,1091,4194,4089,2905],"class_list":["post-6586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oil-gas","tag-concerted","tag-duration","tag-efforts","tag-extension","tag-options","tag-reliability","tag-restoring"],"_links":{"self":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/6586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/comments?post=6586"}],"version-history":[{"count":1,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/6586\/revisions"}],"predecessor-version":[{"id":6588,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/6586\/revisions\/6588"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media\/6587"}],"wp:attachment":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media?parent=6586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/categories?post=6586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/tags?post=6586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}