{"id":12401,"date":"2023-12-21T08:54:35","date_gmt":"2023-12-21T08:54:35","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=12401"},"modified":"2023-12-21T08:54:35","modified_gmt":"2023-12-21T08:54:35","slug":"gas-utilisation-to-revolutionize-nigerias-power-and-industries-says-nnpc-ceo","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2023\/12\/21\/gas-utilisation-to-revolutionize-nigerias-power-and-industries-says-nnpc-ceo\/","title":{"rendered":"Gas Utilisation to Revolutionize Nigeria\u2019s Power and Industries, says NNPC CEO"},"content":{"rendered":"
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The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Ltd, Mele Kyari, has outlined the company’s commitment to leveraging Nigeria’s abundant gas resources to revolutionize the nation’s power and industrial sectors. This announcement was made during the signing of a Shareholders Agreement between NNPC Ltd., UTM Offshore (an indigenous company), and the Delta State government for the development of Nigeria’s first Floating Liquefied Natural Gas (FLNG) facility, held in Abuja.<\/p>\n

Kyari emphasized that the utilization of gas would bring about a transformative impact on Nigeria in the next two to three years. The NNPC CEO highlighted ongoing initiatives to bring gas to the domestic market, stating that the infrastructure backbone is nearly ready to facilitate this transformation. He expressed optimism about the immediate positive effects on the power sector, gas-based industries, and the creation of collateral values.<\/p>\n

Describing the FLNG project as a crucial undertaking, Kyari stressed the underutilization of Nigeria’s abundant gas resources and the need to monetize them for both national and global benefits. He emphasized that the project aligns with the federal government’s gas aspirations, particularly under the Decade of Gas Initiative, and supports the agenda to create a gas hub for maximizing value and prosperity.<\/p>\n

NNPC Ltd. has taken an equity stake in the FLNG project, marking the company’s keen interest in this innovative initiative. Kyari expressed NNPC Ltd.’s commitment to collaborating with the Delta State government and assured practical steps to deliver the project on schedule and at the best possible cost.<\/p>\n

In his remarks, Julius Rone, the Group Managing Director of UTM Offshore Limited, commended President Bola Tinubu for his dedication to developing Nigeria’s gas resources. He also praised NNPC’s GCEO for leadership and commitment to developing the nation’s gas resources within the provisions of the Petroleum Industry Act (PIA) 2021.<\/p>\n

Governor Sheriff Oborevwori of Delta State, where 40% of Nigeria’s proven gas reserves are located, highlighted the strategic importance of the FLNG project to the national economy. The Delta State Government, recognizing this significance, has taken an eight percent equity stake in the project. Governor Oborevwori outlined the multiple benefits of the FLNG project, including the production of over 300,000 metric tonnes of Liquefied Petroleum Gas (LPG), mitigation of environmental hazards, job creation, and the transition to cleaner energy.<\/p>\n

The FLNG facility, expected to produce 1.81 to 2.72 metric tonnes of gas annually, is a collaborative effort with NNPC Ltd. holding 20%, UTM Offshore holding 72%, and the Delta State Government holding 8% stakes in the project. The project aligns with Nigeria’s strategic goals for economic growth and energy security.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Ltd, Mele Kyari, has outlined the company’s commitment to leveraging Nigeria’s abundant gas resources to revolutionize the nation’s power and industrial sectors. This announcement was made during the signing of a Shareholders Agreement between NNPC Ltd., UTM Offshore (an indigenous company), and […]<\/p>\n","protected":false},"author":12,"featured_media":12402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[180],"tags":[],"class_list":["post-12401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/12401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=12401"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/12401\/revisions"}],"predecessor-version":[{"id":12425,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/12401\/revisions\/12425"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/12402"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=12401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=12401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=12401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}