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NLNG to supply 1.1m tonnes of gas to domestic market

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NLNG to supply 1.1m tonnes of gas to domestic market

By Edith Ike-Eboh

Nigeria Liquefied Natural Gas limited (NLNG) said it has entered into Purchase and Sale Implementation Agreements (SPAs)to deliver 1.1 million tonnes per year to boost the country’s domestic gas supply.

The chief executive of the company, Mr. Tony Attah, made it known during the announcement of the agreement on the sidelines of the 4th International Petroleum Summit (NIPS) underway in Abuja on Tuesday.

“I am pleased to welcome you and to announce that our commitment, as a corporate entity, to unlock the use of gas is now supported by the execution of sales and purchase agreements (SPA) to supply 1.1 million tonnes per year (MTPA) of DES-based LNG to Asiko Power Limited, Bridport Energy Limited and Gas-Plus Synergy Limited.

“SPAs will facilitate project execution and buyer-led infrastructure development to facilitate LNG delivery to the domestic market.

“The execution of these SPAs follows a workshop on Domestic LNG (DLNG) held in November 2019 to test the delivery model with industry stakeholders and a series of commitments to identify the appropriate actors to co-create the initiative and stimulate market interest in potential takers, ”he said.

He commended the efforts of the NLNG Board of Directors in demonstrating faith in the vision for the Gas Decade and its commitment to actualizing that vision.

He congratulated the Department of Petroleum Resources (DPR), which will play a key role in the implementation of the agreement.

“With Nigeria’s enormous gas reserves, I have no doubt that with the goodwill of the government and the support of business, we as a nation can stand tall to be counted among the major players.

“The government has shown that it is ready to take the gas sector to the next level by declaring this decade our country’s Gas Decade.

“We believe this will be the decade for us to leverage our gas reserves to accelerate our power generation solutions through Gas-to-Power projects.

“This will be the decade when, as a nation, we stop reporting pollution deaths from the use of wood and solid fuels as household energy sources. And this will be the decade for enabling local SMEs to take advantage of the various investment opportunities that the Gas Decade will attract, ”he said.

Attah noted that in addition to the domestic LNG project, the ongoing Train 7 project has the capacity to attract around $ 10 billion in foreign direct investment.

He noted that the company would extend the LPG value chain by increasing the supply of the domestic market, securing the supply of LPG and improving its access, and enabling the development of a value network for a sustainable ecosystem. .

in his remarks, the gas operations manager of the Nigerian National Petroleum Corporation, said the gas decade has come to stay and everyone should support it.

“A decade of gas will bring development, increase food, fertilizer and improve transportation,” he said.

He urged buyers to ensure the supply of the domestic market and not to export it.

In his remarks, the managing director of Asiko Energy, one of the buyers, Mr. Felix Ekundayo, said the company was proud to be part of the deal.

He assured that he would do his best to ensure an adequate supply of gas for domestic use, saying that “we are the domestic solution for the supply of LNG in the country”.

Mr. Ken Etete and Mr. Jamal Akinde, Managing Directors of Gas Plus and other Bridport buyers, have also committed to supply the product. (NAA)

(NAN)

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