The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Ltd., Mr. Mele Kyari, has said that the company will utilise Nigeria’s abundant gas resources to revolutionize the nation’s power and industrial sectors.
Kyari disclosed this during a signing ceremony of a Shareholders Agreement (SHA) between the NNPC Ltd., UTM Offshore (an indigenous company), and the Delta State Government on the development of the first Floating Liquefied Natural Gas (FLNG) facility in Nigeria, held at the NNPC Towers in Abuja, on Tuesday.
“In the next 2-3 years, we will use gas to bring about a revolution in our country. The outcomes will be clear on the table; there will be prosperity, and value will be created. Not just creating gas for export but progressing on all our initiatives of bringing gas into the domestic market. Our backbone infrastructures are almost ready to ensure we achieve that. Once that happens, we will see the immediate impact on the power sector, gas-based industries and several other collateral value that this will create,” stated.
Describing the FLNG project as a task that must be done, Kyari said Nigeria is a gas country whose abundant gas resources have been under-utilised. He stressed that the new focus is to monetise such gas resources for the benefit of the country and the world.
He said the FLNG Project clearly fits into the Federal Government’s gas aspirations under the Decade of Gas Initiative and in line with Mr. President’s clear agenda to create a gas hub so that value can be maximised, and Nigeria achieves the prosperity that it deserves.
Reiterating NNPC Ltd.’s commitment towards the project, Kyari said the FLNG was the first of its kind that the company was taking keen interest and holding an equity in.
“More than this, there are several Floating LNGs that we are promoting, including fixed LNG projects. We are happy to collaborate with the Delta State Government. We will take practical steps to get it done. We are committed to delivering this project in time, on schedule and in the best possible cost,” the GCEO added.
Earlier in his remarks, the Group Managing Director of UTM Offshore Limited, Mr. Julius Rone described the SHA execution as another significant milestone in actualizing Nigeria’s first indigenous FLNG.
