The Nigerian National Petroleum Company Limited (NNPCL) has signed two gas deals covering a floating liquefied natural gas deal and a small-scale LNG deal at the ongoing COP28 in Dubai, United Arab Emirate (UAE)
According to the company, the deals were both for Domestic, and International Markets.
There is an Agreement on 421 Tonnes Per Day Small-Scale LNG Project in Ajaokuta and MoU on Floating LNG.
Analysts believe that the deals, if fully consummated, are expected to further support current efforts by the Federal Government to optimize the benefits of the hydrocarbon resources in terms of revenue earnings and climate-smart exploration for the country.
This is particularly true when analyzed with the context of gas flares rate in the country and failure of E&P companies to fully comply with the regulations targeted at combating the abuses.
