The NNPC official said the LNG Arete Ltd, a fully Nigerian-owned company, is leveraging its expertise in the oil and gas sector to provide secure and affordable LNG as an alternative energy source.

He reaffirmed the NNPC’s commitment to utilising Nigeria’s gas resources to bring affordable energy solutions to Nigerians.

“We have also signed Memorandum of Understanding (MoUs) and project development agreements for floating LNG projects, another first in the country. So, many more good things from gas are coming,” he said.

Soneye said the initiatives will provide gas solutions across the industrial, commercial, power generation, and transportation sectors.

‘WE’LL TAKE MORE FINAL INVESTMENT DECISIONS TO ROLL OUT ADDITIONAL CNG STATIONS’

He also disclosed the NNPC’s plans to expand Nigeria’s compressed natural gas (CNG) infrastructure as part of efforts to promote cleaner energy solutions and reduce transportation costs.

Soneye said CNG usage in automobiles is 40 percent cheaper than petrol and also efficient for power generation.

“Last year, we inaugurated the 5.2mmscuf/d Ilasamaja (Lagos) CNG mother station. Recall also that the NNPC Retail Ltd inaugurated 11 CNG stations across various locations in Abuja and Lagos,” he said.

“We have been working with our partners to deliver 100 more CNG stations this year. These CNG stations represent a bold step in extending our CNG presence nationwide, and obviously in demonstrating our commitment to help diversify Nigeria’s energy mix.”

Soneye said more final investment decisions (FIDs) will be taken this year to roll out additional CNG mother stations nationwide to support national economic growth and development.