100% LPG supply has impacted Nigeria’s market price –NLNG

The Nigeria LNG Ltd. (NLNG) on Tuesday, said supply of 100 per cent of its Liquefied Petroleum Gas production (Propane and Butane) to the nation’s local  market had made positive impacts.

The NLNG said the move, which was approved by the company’s Board of Directors, had led to the reduction in the prices of LPG, also known as cooking gas , across the country.

Mrs Sophia Horsfall, Manager, Corporate Communications and Public Affairs, NLNG, who made this known at the 5th Nigeria International Energy Summit (NIES), in Abuja, while welcoming Chief Timipre Sylva, Minister of State for Petroleum Resources, to the company’s exhibition stand at the summit, said prioritising the domestic market would help to deepen gas utilisation in Nigeria.

This according to her was in line with the Federal Government’s declaration of year 2021 to 2030 as the Decade of Gas.

She noted that NLNG was currently the highest single supplier of LPG into the domestic market, with an estimated 400,000 metric tonnes supplied in 2021, adding that NLNG Train 7 project would also help deepen gas utilisation in the country.

In her words, Train 7 project was expected to ramp up NLNG’s production capacity by 35 per cent from 22 million Tonnes Per Annum (MTPA) to around 30 MTPA.

The NLNG spokesperson  noted that the project would  form part of the investment of over $10 billion, including the upstream scope of the LNG value chain, thereby increasing dividends, and taxes accruing to government.

NLNG she said  was also working on other projects to bring socio-economic development to its host community and the entire nation.

This includes the 36km Bonny Bodo Road Project to connect Bonny Island and other riverine communities to mainland Rivers State now about 56 per cent completed.

She said NLNG had invested in hospital projects , including the Bonny Malaria Elimination Programme in partnership with United States Agency for International Development.

The theme of the summit is:”Revitalising the Industry: Future Fuels and Energy Transition.”