The Nigerian National Petroleum Company (NNPC) Limited engaged in discussions with a South Korean consortium led by Daewoo E & C in Seoul, South Korea, yesterday. The talks aim to further NNPC’s efforts to harness Nigeria’s abundant gas resources and become a prominent supplier of clean and affordable energy on the global stage.
Given South Korea’s status as a major destination for Liquefied Natural Gas (LNG) exports, the consortium, in collaboration with the Korean Export-Import Bank, expressed interest in advancing discussions on investments in greenfields and other gas development opportunities.
Mr. Olufemi Soneye, NNPC’s Chief Corporate Communications Officer, released a statement indicating that these discussions would lead to the execution of a Memorandum of Understanding (MoU), facilitating strategic foreign direct investment. This aligns with the administration’s policy, led by President Bola Tinubu, to position Nigeria as a prime destination for global investors.
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During the talks, Mr. Mele Kyari, NNPC Group Chief Executive Officer, extended congratulations to Temile Development Company, a local player in the gas sector, for commissioning its 23,000-cubic-metres ultra-modern Liquefied Petroleum Gas (LPG) Carrier in Ulsan, South Korea.
Mr. Kyari emphasized that the vessel, named Alfred Temile 10, marks a significant milestone in enhancing gas utilization domestically and increasing gas revenues. The CEO highlighted the importance of promoting clean energy access in Nigeria, moving away from biomass as a source of energy, and expressed continuous support for such initiatives.
The commissioning of Alfred Temile 10 represents a crucial step in expanding the utilization of gas within the country and boosting gas revenues. The vessel is designed for the efficient transportation of liquefied petroleum gas, contributing to the growth of Nigeria’s domestic gas industry.
