In an attempt to increase the current 1.6 billion cubic feet of gas supply for the domestic market, NNPC Ltd.’s Group CEO, Mele Kyari, stated that the business has finalized plans to deliver 12 compressed natural gas (CNG) mother stations and mini LNG plants soon.
At the 42nd Nigeria Association of Petroleum Explorationists (NAPE) Annual International Conference and Exhibition, which had as its theme “Resolving the Nigeria Energy Trilemma: Energy Security, Sustainable Growth, and Affordability,” in Lagos on Monday, Kyari made this announcement.
As the event’s Special Guest of Honor, the GCEO reaffirmed the company’s dedication to resolving Nigeria’s energy dilemma by guaranteeing energy affordability, sustainable growth, and security.
Kyari, who stated that NNPC Ltd is a co-owner of the Dangote Refinery, responded to allegations that the company is undermining the work of domestic refineries by emphasizing that the investment is a calculated step to improve the domestic fuel supply.
As guardians of Nigeria’s energy destiny, we have a great duty to address the energy trilemma. Kyari said, “NNPC Ltd is putting in a lot of effort to enhance our supply chain, create new refining capabilities, and grow our retail network.”
According to a statement from NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, Kyari revealed that NNPC Ltd. will work with private refineries to guarantee a sustainable and reasonably priced supply of petroleum products; Naira-for-crude transactions will help to stabilize the local currency and control foreign exchange markets.
According to him, this will lead to the development of cleaner energy sources like compressed natural gas (CNG) and liquidified natural gas (LNG), as well as the extension of gas infrastructure like the Obiafu-Obrikom-Oben (OB3) and Ajaokuta-Kaduna-Kano (AKK) Gas Pipelines projects.
With infrastructure that we either fully own or run in collaboration with partners, NNPC Ltd. currently provides the domestic market with over 1.6 billion standard cubic feet (bscf) of gas each day. The balance sheet of NNPC Ltd. is used to operate this distribution network in its entirety, Kyari continued.
Read Also: Rtd.CP Augustines Akika Endorse Kampe Herbal Drink; Says It’s a Safe Organic Herbal Drink for the Young and Old
The NNPC Ltd helmsman explained that the company is stepping up its efforts to improve domestic energy access and that major project launches, such as CNG mother stations, mini-LNG plants, and more CNG daughter stations, will take place over the next three to six months.
Kyari underlined the necessity of cooperation, creativity, and technology in accomplishing Nigeria’s energy goals while applauding President Tinubu’s attempts to ease foreign exchange pressures by lowering petroleum imports and bolstering Nigeria’s domestic refining capacity.
Bold ideas, common knowledge, and teamwork are needed to resolve the energy trilemma. Let’s work together to create a Nigeria where everyone has access to safe, sustainable, and reasonably priced energy.
Regarding NNPC Ltd.’s obligation under the Petroleum Industry Act to provide energy security, Kyari stated that the company has promoted collaborations and investments meant to boost domestic output and create income for economic diversification.
