The NNPC Gas Marketing Ltd (NGML), a subsidiary of the NNPC Ltd, and its Unincorporated Joint Venture partner, NIPCO Gas Ltd, have executed a Gas Sale and Purchase Agreement (GSPA) with Ssonic Petroleum Ltd to supply natural gas to the company’s proposed Liquefied Natural Gas (LNG) plant in Lekki Free Trade Zone, Lagos State.
Under the terms of the agreement which was executed on Thursday, 6th March, 2025, the NGML-NIPCO UJV will supply 80million standard cubic feet (mmscf) per day of natural gas to the Ssonic Petroleum LNG plant for a period of 20 years.
The gas supply agreement is part of efforts by the NNPC Ltd to boost domestic gas utilisation for the nation’s industrial and economic growth and promote the use of gas as a cleaner, cheaper and more environmentally friendly fuel in keeping with the goal of reducing global warming.
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mr. Mele Kyari, had reiterated the crucial role of natural gas in fuelling economic growth and industrial development in Nigeria.
The GCEO highlighted the global acceptance of gas as a crucial energy source that sustains economic growth and drives industrial activities.
Kyari underscored the significance of prioritising natural gas production and supply, particularly in the context of geopolitical dynamics and energy security in the global economy.
With Nigeria boasting substantial gas reserves exceeding 200 trillion cubic feet (Tcf) and a potential to reach 600 Tcf, the GCEO said it was pertinent that Nigeria leverages the gas resource for sustainable development, energy security, and job creation.
