NNPCL Signs 2 Major LNG Deals At COP28

Group Managing Director (GMD) of NNPCL, Mele Kyari

The Nigerian National Petroleum Company Limited (NNPCL) has signed two Liquefied Natural Gas (LNG) deals for domestic and international markets at the ongoing UN Climate Change Conference, COP28, in Dubai, United Arab Emirates.

The company disclosed this development through its official X handle in a terse statement.

“At COP28 in Dubai, NNPC Ltd seals LNG deals for domestic, international markets…agreement on 421 tonnes per day small-scale LNG project in Ajaokuta and MoU on Floating LNG,” the company posted.

The Telegraph reports that cooking gas prices have continued to soar in Nigeria despite the country’s huge gas reserves.

According to the National Bureau of Statistics, the average price of 12.5kg LNG stood at N9,247.4 in September 2023; however, the figure increased to N13,500 as of December 6.