By Uche Usim (Abuja), Adewale Sanyaolu and Chinwendu Obienyi
The Federal Government, through the Ministry of State for Petroleum Resources, says it is working hard to complete various gas refinery projects on the back of the decade of gas initiative before the end of this year.
This was even as the Nigerian Content Development and Monitoring Board (NCDMB) revealed that it will sign another agreement this month to build another LPG vessel that will transport products within Nigeria given the expansion that is currently going on in the NLNG.
Speaking to Daily Sun on the sidelines of the Nigerian Content Midstream-Downstream Oil and Gas 2022 summit which held in Lagos on Monday, the Honourable Minister of State for Petroleum Resources, Timipre Sylva, said the theme of the summit tagged “Maximizing potentials in the Mid and Downstream Oil and Gas sector – a local content perspective” is timely and apt and comes at a time the Nigerian Oil and Gas industry is exploring the opportunities and potentials associated with the mid and downstream sectors. While commending the NCDMB for taking the driving seat in articulating an agenda for actualizing the full potential and prospects of the massive investments in the industry, Sylva noted that the under the decade of gas initiative, gas has been declared a transition fuel towards our actualization of a net zero carbon emission target and the country must find way to unlock the natural gas and domestic production potential of Nigeria and drag millions of its people out of energy poverty.
He also revealed that the implementation of the Petroleum Industry Act (PIA) is progressing very nicely, adding that this has brought a lot more appetite for investment in Nigeria.
When quizzed on the timeline of the projects the government is working on, Sylva said, “We are working on the Trans-Saharan gas pipeline, the AKK Gas pipeline project is also advanced and there are a lot of projects that are actually scheduled to be completed by the end of this year.
Walter Smith refinery has already been completed while the DuPont refinery and Atlantic refineries are billed to be completed this year.The brass petroleum product depot also should be completed this year as well as a lot of other projects that are designed to be completed this year”.
Corroborating Sylva, the Executive Secretary, NCDMB, Engr Simbi Wabote, said that with the World gas conference holding this week in South Korea, one of the key highlights of the event will be a signing of an agreement to construct second LPG vessels.