NNPC Engages South Korea for Gas Projects

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The Nigerian National Petroleum Company Limited (NNPCL) has initiated discussions with a South Korean consortium led by Daewoo E & C regarding the development of gas projects in Nigeria.

The talks, held in Seoul, South Korea, aim to leverage Nigeria’s extensive gas resources to become a key supplier of clean and affordable energy to the global market.

In a statement issued in Abuja, NNPCL highlighted its commitment to tapping into Nigeria’s abundant gas reserves and facilitating strategic foreign direct investment. The discussions are expected to lead to the execution of a Memorandum of Understanding, aligning with the Federal Government’s objective of positioning Nigeria as a premier destination for global investors.

The national oil company’s focus on gas projects includes partnerships with entities like West Africa Gas Ltd, with plans to bolster LPG supply within Nigeria to meet market demands. By enhancing gas reserves and production capacity, NNPCL aims to strengthen Nigeria’s position in the energy sector while attracting both local and international investments.

Source: Punch

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