Adedapo Adesanya
By Adedapo Adesanya
The gas transportation subsidiary of Nigerian National Petroleum Corporation (NNPC), the Nigerian Gas Company (NGC), has disclosed that it plans to diversify into gas processing in order to expand its footprint in the sector and boost revenue.
Chairman of the company’s Board of Directors and NNPC Chief Operating Officer (COO), Upstream, Mr Roland Ewubare, made this disclosure at the 24th Annual General Meeting (AGM) of the organisation on Thursday at the NNPC Towers, Abuja.
According to a statement issued NNPC’s Acting Group General Manager, Group Public Affairs, Mr Samson Makoji, Mr Ewubare explained that this move was to enable the company explore other aspects of the business.
Mr Ewubare, speaking on ways to increase the revenue base of NGC, said the firm has acquired equity in a number of gas processing concerns, including the Assa North-Ohaji South (ANOH) Gas Processing Company (AGPC), Makaraba Gas Processing Project and the Sapele Gas Compression Project.
“Completion of these gas processing projects are expected to significantly increase NGC’s revenue and boost the federal government’s Economic Recovery and Growth Plan (ERGP),” he said.
On the company’s financial performance for 2018, he stated that it recorded a continuous growth in its profit for the second consecutive year after tapping into the potential profitable industry which saw its business streamlined to gas transportation.
