The Nigerian National Petroleum Company Limited (NNPC Ltd) has entered into discussions with a South Korean consortium led by South Korean consortium to pioneer gas projects in Nigeria.
The deliberations, hosted in Seoul, South Korea, underscore NNPC Ltd’s determination to harness Nigeria’s substantial gas reservoirs and emerge as a major global supplier of eco-friendly and cost-effective energy.
The consortium from South Korea, in collaboration with the Korean Export-Import Bank, has signaled interest in a strategic partnership.
Their aim is to explore investment prospects in greenfield projects and other gas development initiatives within Nigeria. The ongoing talks are anticipated to result in the formalization of a Memorandum of Understanding (MoU), paving the way for vital foreign direct investment.
This aligns seamlessly with the administration’s objective of positioning Nigeria as a prime choice for international investors.
Mele Kyari, the Group Chief Executive Officer of NNPC Ltd, lauded the efforts of an indigenous participant in the gas sector.
Kyari praised the inauguration of their cutting-edge 23,000 cubic meters Liquefied Petroleum Gas (LPG) Carrier in Ulsan, South Korea. Named Alfred Temile 10, the vessel signifies a significant leap toward maximizing gas utilization within Nigeria and boosting gas revenues.
Kyari emphasized the collaboration between NNPC Ltd and West Africa Gas Ltd (WAGL) in the construction of vessels dedicated to enhancing LPG supply in Nigeria. This collaboration is a proactive response to the escalating demand for cleaner fuel in the Nigerian market.
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