Monday, August 8, 2022
Home Business Cooking Gas: NLNG reiterates commitment to 100% production for domestic market

Cooking Gas: NLNG reiterates commitment to 100% production for domestic market

Nigeria LNG Limited has reiterated its commitment to 100% of its Liquefied Petroleum Gas (LPG) production to the domestic market to support the growth of LPG utilisation in the country and help reduce the health, safety and environmental risks associated with the use of other domestic fuel sources.

The Deputy Managing Director of Nigeria LNG Limited (NLNG), Mr. Olalekan Ogunleye, said this during his speech at the 2nd West Africa LPG Expo and NLPGA Summit on Thursday. Mr. Ogunleye stated NLNG remained committed to collaborating with regulators, partners, and industry players to grow the domestic LPG market and bring cleaner energy to Nigerians.

He added that through the supply of LPG, NLNG prioritised the supply of clean energy in Nigeria while working collaboratively with the government to grow LPG consumption in Nigeria as part of the national journey to a clean energy future.

He said LPG domestic consumption in the country has increased by 300%, from about 60,000 metric tonnes in 2007 to over one million metric tonnes in 2020. He stated further that the increase indicated that the domestic market was one fastest-growing LPG markets in the world and that it the viability of LPG as a business and its adoption by the citizenry.

He said a significant stimulus to the domestic LPG was the declaration by the Federal Government of the ”Decade of Gas” and the support of regulators and industry stakeholders. He stated that the declaration had created an enabling environment for investment and deliberate actions designed to ensure that Nigeria takes advantage of the global energy transition while monetising the country’s extensive gas reserves.

Speaking on NLNG’s contribution, Mr. Ogunleye said: “Since the start of the Domestic LPG Supply Scheme in 2007, NLNG has consistently increased both its reserved volumes for the domestic market and actual LPG volumes supplied. NLNG intends to maintain this steady growth and supply contribution to the domestic market, consistent with its vision of “helping to build a better Nigeria.” Deliveries continue to be made through NLNG’s chartered LPG Vessel, entirely dedicated to delivering the product to Nigeria to underpin the scheme and ensure a steady supply of products without disruption.  “NLNG continues to invest in supply logistics, infrastructure and security to ensure product supply. It has made financial contributions towards refurbishing LPG receiving terminals in Lagos. By so doing, it has made a significant economic impact on business development and the creation of employment opportunities,” he said

RELATED ARTICLES

Buhari grants consent to Seplat’s buy of ExxonMobil’s Nigeria assets

Buhari, who doubles as oil minister, granted ministerial approval to the deal, the presidency said in a statement on Monday.

Capacity devt: NIMASA reviews sponsorship of cadets training 

The Management of the Agency has approved an additional $2,000 dollars for each cadet, as extra fund due to inflation.

FOREX: Don’t succumb to speculative players, CBN urges Nigerians

According to him, the Bank’s records showed that foreign exchange inflow through the RT200 FX Programme in the first and second quarters of 2022 increased significantly to about US$600 million as at June 2022.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Seeking to Arrangement is not the average link website

Seeking to Arrangement is not the average link website It’s an excellent meetup location for people that know exactly which type regarding relationship they require...

Article opening method: how exactly to publish an Introduction for A Composition

Article opening method: how exactly to publish an Introduction for A Composition Teaching students a way to publish an introduction for an article must incorporate...

There are a great number of in love mythology from the around the globe relationship, but there is one pure facts, the women are...

There are a great number of in love mythology from the around the globe relationship, but there is one pure facts, the women are...

Dopo la schedatura puoi controllare modo tanto albume e simpatico la vicenda del tuo spaccato

Dopo la schedatura puoi controllare modo tanto albume e simpatico la vicenda del tuo spaccato Una dashboard da cui hai incluso in fondo accertamento e...

Recent Comments