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The Nigerian National Petroleum Company Limited (NNPC LTD.) and several loser gas suppliers have signed long -term gas supply agreements (GSA) with Nigeria Liquefied Natural Gas Limited (NLNG) for the delivery of 1.29 billion cubic feet for the day (BSCF/D) of feedgas.
The 20 -year -old agreements, with extension options, were signed at the nnpc towers in Abuja on Friday from NLNG and by the Amni International Petroleum Development Company Limited; Sunlink Energies and Resources Limited; First Exploration & Petroleum Development Company Limited; Snepco; NNPC Limited Gas Marketing; NNPC and & P Limited; Shell Nigeria Gas Solutions Solutions Limited; Oando group; and Aradel Holdings.
The agreements, aimed at filling the prolonged shortage in the availability of gas upstream, marks a great impulse for the agenda of the energy transition of Nigeria and the gas reforms of the federal government aimed at strengthening the economic prosperity of the nation and energy security.
Speaking at the signature ceremony, the CEO of the NNPC Ltd. group, Engr. Bashir Bayo Ojulari, he praised NLNG’s shareholders and the federal government for their long -term commitment for the delivery of value despite the challenges faced over the years. He described the agreements as a gigantic step towards the creation of value and the offer of sustainable gas.
“These GSAs have opened the opportunities for the growth of our sector both for local and international development. They are hinged in collaboration, synergies and opportunities. We must exploit the economies of scale, share risks and opportunities to achieve the decade of the gas of Mr. President,” he said.
Ojulari praised the qualifying environment and the support of the private sector promoted by President Bola Ahmed Tinubu.
“It is important to praise the enormous effort of the president who allowed the activity through the issue of executive orders aimed at gas developments and the ease of doing business,” he added.
The GCIA reiterated the promptness of the NNPC Ltd. to accelerate the realization of the presidential executive orders for the industry, committing to work with partners to unlock opportunities for collective prosperity, in line with the national gas development objectives for incremental production.
In his observations, the CEO of NLNG, Philip Mshelbila, who greeted the GSA as a change of game for the Nigeria gas industry, has declared that they will improve the production capacity of local gas, will improve the reliability of the offer and make the nation’s energy safety advance, industrialization aspirations and economic growth.
“We could not have achieved this before without the deliberated and concerted efforts of our shareholders and parts interested in the energy sector in Nigeria. These agreements are a turning point in the journey of NLNG, restoring the reliability of the offer and ensuring to remain firmly on the path of growth and expansion”, observed Mshelbila.
According to him, the new GSAs strengthen the role of Nigeria in the global energy market, while strengthening the supply of power gas to the Bonny Island plant and supporting the company’s expansion guide.
Nigeria Lng Limited (NLNG) is an incorporated joint venture (IJV), with NNPC LTD that holds 49%, the 25.6%shell gas, Totellegies 15%and Eni International 10.4%.
