NNPC Ltd Woos South Korean Investors For Gas Projects

<h4>&NewLine;NNPC Ltd Woos South Korean Investors for Gas Projects<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that the Nigerian National Petroleum Company Limited &lpar;NNPC Ltd&rpar; has held talks with a South Korean consortium led by Daewoo E &amp&semi; C on the development of gas projects in Nigeria&period;<br &sol;>&NewLine;The Group Chief Executive Officer of NNPC Ltd&comma; Mr Mele Kyari&comma; led the company’s team to the discussions which held in Seoul&comma; South Korea&comma; yesterday&period;<&sol;p>&NewLine;<p>According to a statement signed by Olufemi O&period; Soneye&comma; Chief Corporate Communications Officer&comma; NNPC Ltd and made available to OpenLife&comma; the talks were aimed at deepening NNPC Ltd&period;’s drive to tap into the nation’s vast gas resources to be a supplier of clean and affordable energy to the global market&period;<&sol;p>&NewLine;<p>South Korea is a major destination for Liquefied Natural Gas exports and the consortium&comma; in collaboration with the Korean Export-Import bank&comma; has expressed interest in advancing discussions on investing in greenfield and other gas development opportunities&period;<&sol;p>&NewLine;<p>The talks will pave way for the execution of a Memorandum of Understanding &lpar;MoU&rpar; that will unlock strategic foreign direct investment in line with the President Bola Ahmed Tinubu administration’s policy of making Nigeria a prime destination for global investors&period;<&sol;p>&NewLine;<p>Kyari has also congratulated Temile Development Company&comma; an indigenous player in the gas sector&comma; on the commissioning of its 23&comma;000 cubic meters ultra-modern Liquefied Petroleum Gas &lpar;LPG&rpar; Carrier in Ulsan&comma; South Korea&comma; today&period;<&sol;p>&NewLine;<p>According to the GCEO&comma; the vessel named&comma; Alfred Temile 10&comma; represents a significant stride towards deepening the utilization of gas in-country and growing gas revenues&period;<&sol;p>&NewLine;<p><em><strong>&OpenCurlyDoubleQuote;It is great that Temile Development Company is able to complete the construction of the 23kt LPG vessel&period; This will go a long way in improving access to LPG in the domestic market and provide cleaner fuel in our country&period;<&sol;strong><&sol;em><&sol;p>&NewLine;<p><em><strong> &OpenCurlyDoubleQuote;Nigeria’s objective is to ensure that everyone has access to clean energy and particularly walk away from bio-mass as a source of energy&period; We know this is good and that is why we will continue to support it&period;<&sol;strong><&sol;em><&sol;p>&NewLine;<p>He disclosed that NNPC Ltd&comma; alongside its partner West Africa Gas Ltd &lpar;WAGL&rpar;&comma; was building its own vessels which will boost LPG supply in Nigeria with a view to saturating the market&period;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;