Dr. Maikanti Baru, GMD, NNPC |
The Group
Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, has reiterated that
the Corporation would generate huge gas revenue for Nigeria.
In a
statement in Abuja on Thursday by the Group General Manager, Group Public
Affairs Division, Mr. Ndu Ughamadu,
Baru said monetisation of natural gas was a cardinal mandate of the
corporation. Baru expressed NNPC’s commitment to carry on with its twin gas
projects, Brass LNG and OK LNG when he received the management
of the Nigerian Television Authority
(NTA). He said the two projects were high priority gas ventures which would
boost the nation’s revenue.
Recently at the
annual gas conference, NNPC had promised to increase Nigeria’s revenue from the
nation’s abundant gas reserves. “We are still
committed, as NNPC, to monetising our natural gas. We have the Nigerian
Liquefied Natural Gas (NLNG) which is at the moment monetising about four
billion standard cubic feet of gas on a daily basis (4 billion
scf/d).
“We also
have plans for Olokola LNG as well as Brass LNG. We have a little challenge
with market windows for these projects which we are reviewing on a monthly
basis. Once the appropriate market window opens up, we will quickly get more
shareholders to join us for the projects,”
Baru explained.
He said a meeting
of Brass LNG stakeholders had been scheduled for early next year to chart the
way forward for the project. Baru further disclosed that apart from the LNG
projects, NNPC was also working on gas monetisation through aggressive
enhancement of domestic gas supply for power generation and industrial use.
On the alleged
scarcity of Aviation Turbine Kerosene
(ATK), which is purportedly responsible for the hardship being experienced
in the aviation sector, Baru assured that NNPC had taken steps to ensure
adequate supply of the product with the importation of over 45 million litres.
He added that the
challenge had more to do with the inability of airlines to pay for the product
upon the introduction of a cash-and-carry policy by marketers on account of the
huge amount they were being owed by the airlines. He also lauded the management
of NTA for its factual reportage of the Corporation’s activities.
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