Fidelity bank banner Bayelsa State banner
NNPC strategises for increased gas supply

By News Express on 11/05/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 846

•NNPC GMD, Dr. Maikanti Baru.
•NNPC GMD, Dr. Maikanti Baru.

The Nigerian National Petroleum Corporation (NNPC) and its partners have evolved a scheme to grow gas supply for domestic consumption by 285 per cent.

The NNPC said this in a statement signed by its Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, in Abuja on Wednesday.

Ughamadu quoted the Group Managing Director of the NNPC, Dr Maikanti Baru, as having said this while addressing partners at a 7 Critical Gas Development Projects (7CGDP) stakeholders’ meeting in Abuja.

Baru said the scheme was in line with the Federal Government mandate to stimulate the nation’s economic growth.

The gas growth, he said further, was expected to rise from three billion standard cubic feet per day (scf/d) to five billion scf/d by 2020.

Baru said: “The Federal Government has directed the corporation to aggressively pursue gas development to jump start the nation’s economic growth.

“The strategic focus for achieving this mandate include growing capacity to supply enough gas to generate 15 Gigawatts of electricity to the power sector by 2020.

“Stimulating gas-based industrialisation by positioning Nigeria as the African regional hub for gas-based industries such as Fertilizer, Petrochemicals.

“Methanol and developing gas for export by selectively expanding export footprint in high value and strategic foreign markets.’’

Baru further said appropriate funding for the seven critical gas projects would be a priority and a key success factor to be adopted in facilitating the execution of these vital projects.

According to him, there will be alternative funding through third party financing options.

He urged the partners to work together to ensure that the critical gas projects were executed expeditiously for the benefit of the country.

The NNPC boss also assured that top management of the corporation was available to work with all stakeholders to ensure timely delivery of the projects.

Responding on behalf of the partners, the Managing Director of Shell Petroleum Development Company (SPDC), Mr Osagie Okunbor, commended Baru for seeking optimal production and delivery of gas to power industry and for export.

“With proper alignment of the key parties, the projects would be delivered as scheduled.” Okunbor said.

The seven oil and gas companies earmarked for the project are: Assa North-Ohaji South Field Development, Oil Mining Lease 24 and OML 18 Joint Development.

Others are: SPDC Joint Venture/Nigeria Agip Oil Company Joint Venture Unitized Gas Fields, Chevron Nigeria Limited’s OML 49 Makaraba Cluster Development SPDC JV Gas Supply to Brass Fertilizer Company, among others.

They are meant to fast-track the execution of the project to enable NNPC to meet the 285 percent domestic gas supply growth projection. (NAN)

 

Source News Express

Posted 11/05/2017 01:20:30 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
75 lawsuits slammed on Trump

Troops storm suspected Boko Haram hideouts in Borno...

Group backs booing of Gov. Dickson at presidential...

Presidency announces death of Information Director

5 feared killed by Fulani in Benue community...

VC4A launches Startup Academy, promises to empower African...

Missing crude revenue: NNPC admits owing billions of...

2 soldiers arrested for disrupting sitting of Edo...

Another set of APC stalwarts decamp to PDP...

2 blind homosexuals jailed for sodomy

2015 election results to be announced within 48...

HURIWA condemns extra-judicial killing of Biafra activists in...

 

Latest News Special security force nabs gunrunner, soldier, policeman, 4 Fulani militia men fuelling herdsmen/farmers crisis Madumere wins again as court refuses to vacate order restraining the swearing-in of new Imo Deputy Gov 2 Nigerian pilgrims die in Saudi Arabia — NAHCON Mad man stabs monarch to death in Ekiti Solider, 21 herdsmen die in Benue gun battle Ngige eyes Anambra Central Senatorial seat, says he is under pressure to contest Boko Haram razes 40 houses in reprisal attack Police uncover plan to disrupt Sallah, Durbar celebrations in Kwara Buhari orders Security Chiefs to make Nigeria safe Court halts EFCC’s probe of Benue accounts Why we demolished Ayefele’s Music House — Oyo State Government Ebonyi suspends collection of personal income tax, illegal levies

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (379,380 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (367,603 views) Shameless Genevieve Nnaji exposes breasts in public (297,369 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (242,629 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (223,687 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (217,671 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (193,341 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (175,466 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (160,085 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (158,985 views) Lagos plane crash: Journalist releases victims’ names (153,276 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (143,510 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (56) Business & Economy (3,468) Business Verdict (48) Columnists (912) Complaints & Requests (95) Enterprise & Opportunities (207) Entertainment (529) Features (642) Global Business Monitor (295) International (2,283) Interview (162) Live Commentary (28) Love Matters (135) News (38,184) Opinion (1,064) Pidgin (11) Politics (6,115) Religion (833) Sports (1,654) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Real Madrid vs Atletico Madrid 2-4 Highlights and Goals

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement