By Faridat Salifu
NNPC Ltd has made significant strides in enhancing Nigeria’s gas revenue and reducing methane emissions in oil and gas operations.
During the ongoing COP28 in Dubai, the company signed two key agreements in line with its commitment to boost natural gas utilisation and reduce methane emissions.
The first agreement was an MoU signed with Wison Heavy Industry Co. Ltd, a Chinese company, for the development of a floating LNG project targeting the international LNG market.
Additionally, NNPC Prime LNG Ltd, a subsidiary of NNPC Trading Ltd, signed a Supply, Installation and Commissioning Agreement with SDP Services, focusing on a 421 tonnes per day LNG project aimed at the domestic LNG market.
The floating LNG project aims to chart a roadmap for project development that will lead to an investment decision, while the small-scale LNG (SSLNG) Project, situated in Kogi State, aims to efficiently supply LNG to Autogas/Compressed Natural Gas (CNG) and industrial/commercial customers nationwide, with an expected operational date by December 2024.
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Mr. Olalekan Ogunleye, EVP Gas, Power & New Energy of NNPC Ltd, emphasized the company’s commitment to delivering gas to industries nationwide and expediting gas commercialisation efforts through the floating LNG Project. Mr. Lawal Sade, MD of NNPC Trading Ltd, highlighted the importance of the SSLNG Project in supporting the growth of auto-gas initiatives across the country.
In addition to these projects, NNPC Ltd has expressed its dedication to working with global partners towards reducing methane emissions in oil and gas operations.
The Oil and Gas Decarbonisation Charter, released at COP28, emphasizes the goal of reaching net-zero emissions for oil and gas operations by 2050, including commitments to achieve near-zero methane emissions and no routine flaring by 2030.
During a Panel Session, NNPC Ltd’s Executive Vice President, Upstream, Oritsemeyiwa Eyesan, stressed the importance of the Charter, emphasizing the company’s commitment to working with stakeholders to achieve near-zero methane emissions and zero flaring by 2030. Eyesan also highlighted the company’s commitment to expanding alternative energy sources through investment in solar, wind, and other renewable sources.
NNPC Ltd’s initiatives underscore its dedication to sustainable energy practices and its pivotal role in boosting LNG projects while actively contributing to the reduction of methane emissions in oil and gas operations.
