The Federal Government has declared 2020 as year of gas for the nation.
The Minister of State for Petroleum Resources, Timipre Sylva, who made the declaration also said the federal government will mop up old and obsolete gas cylinders in circulation and replace them with brand new ones has said.
This came as the Nigerian National Petroleum Corporation and the Chevron Nigeria Limited also executed agreements over the multi-billion dollars Escravos Gas-to-Liquid project.
Sylva informed the executive management of the Nigeria Liquefied Petroleum Gas Association, led by the association’s President, Nuhu Yakubu, that the Federal Government had increased efforts to grow the nation’s liquefied petroleum gas industry, as well as deepen the utilisation of LPG in Nigeria.
The minister, who spoke in Abuja, also told his guests that the completion of the Nigerian Gas Flare Commercialisation Programme remained paramount, adding that deepening domestic gas penetration and adoption was vital.
On the agreements between NNPC and Chevron, NNPC’s Group Managing Director, Mele Kyari, while speaking at a sign-off meeting in Abuja, said CNL would boost the domestic gas market with 400mmscf per day gas supply, equivalent to 26 per cent of total domestic gas supply across the country.
Kyari described the EGTL plant as a cornerstone of the energy ecosystem of Nigeria, adding that it had the potential to yield $2bn yearly into the coffers of the Federal Government.
The Chief Executive Officer, CNL, who was represented by the Director, NNPC/Chevron Nigeria Limited Joint Venture, Monday Ovuede, said the project would open up opportunities for gas commercialisation and monetisation in the oil and gas industry.
Ovuede said one of the values would include provision of clean and environmentally friendly energy, as he assured of his organisation’s commitment to foster mutually beneficial relationship with the corporation in the energy sector.
The event also recorded the signing of five sets of agreements which include the Settlement Agreement; Amendment to the Venture Agreement; as well as the Sales and Purchase Agreement.
Others include the Depository Agreement for Special Purpose Vehicle; and Agreement for Power of Attorney to be given to CNL as the representative of the sellers
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