The Nigerian National Petroleum Company Limited (NNPC), together with several upstream gas suppliers, signed long-term gas supply agreements (GSAs) with Nigeria Liquefied Natural Gas Limited (NLNG). NNPC said in a media release that the agreements are for the delivery of 1.29 billion standard cubic feet per day of feedgas.
NLNG is an incorporated joint venture, with NNPC holding 49 percent, Shell Gas 25.6 percent, TotalEnergies 15 percent, and Eni International 10.4 percent.
The 20-year agreements aim to bridge the prolonged shortfall in upstream gas availability, and mark a major boost for Nigeria’s energy transition agenda and the federal government’s gas reforms aimed at strengthening the nation’s economic prosperity and energy security, NNPC said.
“These GSAs have opened up opportunities for the growth of our industry, both for local and international development. They’re hinged on collaboration, synergies, and opportunities. We need to leverage economies of scale, share risk and opportunities for us to attain Mr. President’s Decade of Gas vision”, Bashir Bayo Ojulari, NNPC’s Chief Executive Officer, said.
“It is important to commend the President’s tremendous effort that has enabled the business through the issuance of Executive Orders targeted at gas developments and ease of doing business”, he added.
Ojulari reaffirmed NNPC’s commitment to accelerating the implementation of presidential executive orders for the industry.
“We could not have achieved this sooner without the deliberate and concerted efforts of our shareholders and stakeholders in the energy industry in Nigeria. These agreements are a turning point in NLNG’s journey, restoring reliability of supply and ensuring we remain firmly on the path of growth and expansion”, NLNG Managing Director Philip Mshelbila said.
To contact the author, email andreson.n.paul@gmail.com
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