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NNPC targets 10% share of global LNG

The Nigerian National Petroleum Corporation, NNPC, has expressed commitment to aggressively grow local consumption of the Liquefied Petroleum Gas, LPG, popularly known as cooking gas, even as it targets 10 percent share of the global Liquefied Natural Gas, LNG, market through the Nigerian LNG Limited, NLNG.

NNPC is the highest shareholder in the NLNG with 49 percent, other shareholders being Shell Gas B.V, which owns 25.6 per cent; Total Gaz Electricite Holdings France(15 percent) and Eni International (N.A.) N.V.S.a.r.l (10.4 percent).

NNPC’s Group Managing Director, Dr. Maikanti Baru, disclosed the corporation’s plan towards LPG consumption growth and control of 10 percent of the global LNG market in a statement in Abuja.

According to him, the corporation was determined to invest in making LPG available to Nigerians to discourage the current trend of using firewood and other unsafe means for cooking.

Baru stressed that it was time to bring LPG closer to the people and at affordable price, explaining that NNPC has made significant investment 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 metric tons to 8,000 metric tons in the first phase; construction of pipelines to deliver LPG to plants in the hinterland; and development of coastal supply facilities.
Source: News Wire

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