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NNPC Targets 10% Global LNG Market Share

The Nigerian National Petroleum Corporation (NNPC) says it is commitment to aggressively grow local consumption of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, even as it targets 10percent market share of the global Liquefied Natural Gas (LNG) market.

Group Managing Director of the NNPC, Dr. Maikanti Baru, disclosed this on Thursday at the 8th Annual Conference and Exhibition in Abuja.

Represented by the Chief Operating Officer, Downstream, Engr. Henry Obih, Baru said the Corporation was determined to invest in making LPG available to Nigerians to discourage the current trend of using firewood and other unsafe means for cooking.

On the global scene, Dr. Baru declared that NNPC was doing everything to leverage on the nation’s enormous gas reserve to secure about 10percent of the global market share of traded LNG.

In a presentation entitled: “Strategic Direction – Driving Nigeria’s LPG Future”, the GMD said significant investment has been made by the Corporation to address the challenges of products deficit.

He listed some of the projects aimed at deepening LPG consumption in the country to include: expansion of NNPC LPG storage facility at Apapa from 4,000mt to 8,000mt in the first phase; construction of pipelines to deliver LPG to plants in the hinterland; and development of coastal supply facilities.

“We have also purchased two LPG vessels for export operations through the West African Gas Ltd (WAGL), a joint venture firm, and we have developed a growth strategy plan and gradually providing LPG skids across NNPC Retail outlets”, Baru said.

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