Nigeria targeting 10% global LNG market share – NNPC GMD

As part of its strategic aspirations to drive maximum value from Nigeria’s abundant natural gas resources, the Group Managing Director of Nigerian National Petroleum Corporation, Dr. Mailkanti Kacalla Baru, has said the Federal Government was targeting 10 percent of the world’s market share in traded Liquefied National Gas (LNG).

Baru, who stated this at NNPC Special Day at the just-concluded Lagos International Trade Fair, said the Corporation was focusing on jumpstarting and sustaining gas supply to support a rapid growth in power generation, reposition Nigeria as the regional hub for gas-based industries such as fertilizer, petrochemicals, methanol, Liquefied Petroleum Gas, as well as leveraging the enormous reserves position to strengthen its footprints in high value gas export through LNG and regional gas pipelines.

With emerging gas markets and the need to generate more power across sub – Saharan Africa, Baru, said there will abound an unprecedented investment opportunity in the gas sector for the country. According to him, Nigeria was focused on expanding its existing 22 million metric tones per annum (MTPA) Nigerian LNG plant with additional 8MTPA from its proposed Train -7, a development that will significantly increase global power generation capacity.

Source: The Sun

Share

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...