NNPC to ‘explore offshore gas options in Niger Delta’

LNG nigeria-ken hodge wcThe Nigerian government wants to promote investments in the gas sector. (Image source: Ken Hodge/Wikimedia Commons)Nigerian National Petroleum Corporation (NNPC) has announced that it is in talks with six companies to use a floating liquefied natural gas (LNG) vessel to access stranded gas resources offshore in the Niger Delta

Sources have revealed that Omega Butler International Holdings has already raised the necessary funds of up to US$10bn for the joint venture.

Timothy Okon, executive director of corporate planning and strategy at NNPC, said that the discussions with the six companies had reached advanced stages, but did not reveal details.

“As of now, discussions are ongoing and NNPC is considering proposals, there are about six companies that have indicated interests to work with us on this. The technology of cost effective and easy to deploy,” he added.

Diezani Alison-Madueke, minister of petroleum resources, recently stated that Nigeria’s gas reserves as at the end of 2012 was 5.1 trillion cubic metres representing a 0.01 per cent drop in reserves when compared to the figures of 2011.

Alison-Madueke added that the Nigerian government wanted to promote investments in the gas sector with the intention of creating a gas-based industrial revolution within the country’s hydrocarbon industry.

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