NNPC Signs Gas Deals to Boost Domestic, International Markets Offering
By Adedapo Adesanya
The Nigerian National Petroleum Company (NNPC) Limited has announced the signing of two gas deals at the ongoing COP28 summit in Dubai, the United Arab Emirates (UAE).
The deal covers a floating liquefied natural gas and a small-scale LNG.
According to the company, the deals are for the domestic and international markets.
In a short announcement, the state oil company said there is an agreement on 421 Tonnes Per Day Small-Scale LNG Project in Ajaokuta, Kogi State and a Memorandum of Understanding (MoU) on Floating LNG.
In a related development, the NNPC expressed its commitment to work with global partners in the march towards reducing methane emissions in oil and gas operations at the conference, where the Oil and Gas Decarbonization Charter was released.
The Charter calls on the oil and gas sector to achieve the goal of reaching net-zero emissions for their operations by 2050. It also includes commitments to achieve near-zero methane emissions and no routine flaring by 2030.
Speaking on the development during a Panel Session titled Accelerating the Elimination of Methane Emissions & the Decarbonisation of Oil & Gas, NNPC Limited’s Executive Vice President, Upstream, Mrs Oritsemeyiwa Eyesan said the charter was a major opportunity not just for the NNPC but for the African sub-region.
“Africa contributes three per cent to emissions, but that does not exclude us from the consequences of the emissions. I think the decarbonisation drive and the charter are not just ethical but also a strategic imperative for a major African National Oil Company (NOC) like ours.
We believe this charter is an important one. We are committed to working with all stakeholders to deliver on that,” Mrs Eyesan stated.
She said to achieve its near-zero methane emissions, Nigeria has since declared this decade as a Decade of Gas, which is not only geared towards producing more gas for export but also towards producing gas for the local economy and that of the entire African sub-region.
“I assure you that we are open to working with our partners towards achieving zero-flare and methane emission reduction by 2030. This fits perfectly with our dreams, and we consider it achievable,” Mrs Eyesan stated.
She described finance and technology as the two major challenges in delivering on the provisions of the charter, noting that for the two problems to be solved, African countries need to work with partners who have the technology and finance.