NNPC Set Date to Launch $700 Million Gas Project Which Will Boost Industrialisation
- The Nigerian National Petroleum Company Limited (NNPC) has set August as the date to complete the OB3 gas pipeline project
- The company’s chief executive officer, Mele Kyari, disclosed that the project would deliver about 2.2 billion standard cubic gas to the network
- The OB3 Gas pipeline links the Eastern gas pipeline network to the Escravos-Lagos Pipeline System and across the country
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The Nigerian National Petroleum Company Limited (NNPC) plans to deliver the Obiafu-Obriku-Oben (OB3) gas pipeline project by August this year, driving industrialisation and economic growth.
NNPC’s group chief executive, Mele Kyari, inspected the mega project in Delta State on Saturday, June 22, 2024, and affirmed the imminent completion of the project.
Source: UGC
New project to add value to industries
Kyari said that the project would add value to Nigeria upon completion, and about 2.2 billion standard cubic feet of gas would enter the network.
The OB3 Gas pipeline links the Eastern gas pipeline network to the Escravos-Lagos Pipeline System in the West and the Ajaokuta-Kaduna-Kano, the AKK Pipeline in the North.
The national oil company disclosed in a statement signed by Olufemi Soneye, the firm’s Chief corporate communications officer, that the River Niger Crossing operation slowed the projects completion for over three years due to the failure of various tech deployed to achieve the construction of the 48-inch pipe under the river bed between Ndoni in Rivers and Agbor in Delta State.
The OB3 to crisscross Nigeria
BusinessDay reports that the Minister of State for Petroleum (Gas) expressed satisfaction with the pace of work at the OB3 River Niger Crossing operation.
The development comes amid plans by the Kenyan government to allow Nigerian energy firm Asharami Synergy Plc to construct the country's most extensive LPG storage facility.
The government said the project will be located in the port city of Mombasa to expand energy access nationwide.
NNPC signs $550m deal to expand domestic supply
Legit.ng reported that Nigeria was set to increase its domestic gas availability by investing $500 million in the Ubeta gas field development project.
The final investment (FID) was signed by the Nigerian National Petroleum Company Limited (NNPC) and TotalEnergies, the operator of the OML 58 license where the Ubeta field is situated.
Reports say the project involves a commitment of $550 million to extract 900 billion cubic feet of non-associated natural gas from OML 58, situated approximately 85 kilometres from Port Harcourt in the Delta region.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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Source: Legit.ng
