CURRENT REPORT BLOG NNPC Ltd, Nigeria’s state oil firm, has announced securing two significant agreements to expand its liquefied natural gas (LNG) portfolio for both domestic and international markets. The agreements, reached during the COP28 climate talks in Dubai, underscore Nigeria’s commitment to utilizing its extensive natural gas resources for economic growth and energy security. The first deal involves a memorandum of understanding with Wison Heavy Industry Co. Ltd, focusing on a floating LNG project targeting international markets, while the second agreement is with SDP Services Ltd for a domestic LNG project.
As Africa’s largest oil producer with over 200 trillion cubic feet of natural gas reserves, Nigeria seeks investments to enhance both domestic and export capabilities. NNPC, in collaboration with investors, aims to boost Nigeria’s gas processing capacity, positioning the country as a key hub in West Africa over the next four years. The recent agreements reflect Nigeria’s strategic efforts to leverage its energy resources for economic development and global market participation.
