Nigeria signs long term gas exploration deals

Aerial view of Nigeria Liquefied Natural Gas (NLNG) plant at Bonny Island in Rivers State on March 22, 2013. Shell Petroleum Development Company of Nigeria (SPDC) has threatened to shut down production in April for nine days in the entire Nembe Creek Truck Line (NCTL) to remove a number of bunkering points on pipelines vandalised by oil thieves in the region. “Whenever we observe a spill, or have a spill on our lines, we shut down production to depressurize and isolate the line, only then can we safely repare our lines because it is then safe to manipulate the line”, said Jurgen Jonzen, SPDC corporate pipeline asset manager. Last year, 157 bunkering points were removed and 116 were leaking on the whole SPDC exploitation. Since 2009, SPDC has exprienced an upsurge in vandalisation of pipeline network by criminals causing severe environmental devastation of the region and forcing the company to lose 60 000 barrels daily this year. AFP PHOTO / PIUS UTOMI EKPEI (Photo by PIUS UTOMI EKPEI / AFP)

The Nigerian National Petroleum Corporation along with Shell Petroleum Development Company of Nigeria, Total Exploration and Production Nigeria, and others have signed 2 deals deepening their joint venture partnerships.

One of the deals is the first basic 20-year term of gas supply agreements for the Nigerian Liquified Natural Gas Train 7. Another is the 10-year term for gas supply agreements for Trains 1, 2, and 3.

Group Managing Director of the NNPC, Mele Kyari said that the agreement signalled the commitment of all to the gas project in the country.

Kyari further disclosed that the project would form part of the investment of over $19 billion including the upstream scope of the NLNG value chain, thereby boosting the much needed final investment decision profile of Nigeria.

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It is expected that the project could create over 10,000 new jobs during the construction phase. On completion, the project would also help mop up more gas that would have been flared and diversify the country’s portfolio

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