NNPC targets 10% share of global LNG market
As part of its strategic aspirations to drive maximum value from Nigeria’s abundant natural gas resources, the Nigerian National Petroleum Corporation (NNPC) is targeting 10 per cent market share of the global Liquefied Natural Gas (LNG) market.
Group Managing Director of the NNPC, Dr Maikanti Baru, expressed the Corporation’s commitment at the opening ceremony of the Eighth Annual Conference and Exhibition in Lagos.
In a statement issued by NNPC spokesman, Mr Ndu Ughamadu, in Abuja, Baru said the NNPC is committed to aggressively growing local consumption of Liquefied Petroleum Gas (LPG), popularly known as cooking gas.
Baru, represented by the Chief Operating Officer, Downstream, Mr Henry Obih, said that the NNPC was determined to invest in making LPG available to Nigerians.
This, he said would discourage the current trend of using firewood and other unsafe means for cooking, stressing that it was time to bring LPG closer to the people and at affordable price.
In a presentation entitled: “Strategic Direction – Driving Nigeria’s LPG Future”, the GMD said significant investment had been made by the Corporation to address the challenges of products deficit.
He listed some of the projects aimed at deepening LPG consumption in the country to include: expansion of NNPC LPG storage facility at Apapa from 4,000 mt to 8,000mt in the first phase.
Others, he added was construction of pipelines to deliver LPG to plants in the hinterland; and development of coastal supply facilities.
“We have also purchased two LPG vessels for export operations through the West African Gas Ltd (WAGL), a joint venture firm, and we have developed a growth strategy plan and gradually providing LPG skids across NNPC Retail outlets”, he said.
He further reiterated that NNPC was doing everything to leverage on the nation’s enormous gas reserve for economic growth and development. (NAN)