Two prominent oil and gas entities from Nigeria, the esteemed Nigerian National Petroleum Company Limited and Nigeria Liquified Natural Gas Limited, alongside various other key upstream gas producers, have successfully inked Gas Supply Agreements to facilitate the delivery of an impressive 1.29 billion standard cubic feet per day (bscf/d) of feed gas.
NNPCL announced this significant development in a press release over the weekend following the ceremony marking the signing of the GSAs in Abuja.
Reflecting on this monumental deal, the Group Chief of NNPCL, Bayo Ojulari, characterized the agreements as a monumental stride toward generating substantial value and ensuring a sustainable gas supply within the nation.
“These GSAs have unlocked myriad opportunities for the advancement of our industry, fostering both local and international growth. They are built upon the pillars of collaboration, synergies, and shared prospects. We must harness economies of scale and collaboratively navigate risks and opportunities in order to realize Mr. President’s visionary Decade of Gas,” he articulated.
NLNG Managing Director Philip Mshelbila also weighed in on the matter, asserting that these accords will significantly boost local gas production capacity, enhance the reliability of supply, and further the country’s energy security, ambitions for industrialization, and economic prosperity.
“These agreements represent a pivotal moment in NLNG’s journey, reinstating supply reliability and ensuring we steadfastly continue on the trajectory of growth and expansion,” asserted Mshelbila.
