Ahead of the completion of the Ajaokuta Kaduna Kano (AKK) Gas pipeline, the Nigerian National Petroleum Company Limited (NNPC) business team has commenced off-takers engagement for the operation.
The Group Chief Executive Officer GCEO Engr Bashir Bayo Ojulari broke the news when the Nigerian Extractive Industries Transparency Initiative (NEITI) management team paid him at courtesy visit in the NNPCL Towers, Abuja.
He said the business team is helping the customers and off-takers to establish the operational structure.
According to him, the AKK transcends the pipeline to the growth of the business in terms of power, industrial Park, and the Compressed Natural Gas (CNG) extensions.
His words: “So we’re not just working on the pipeline. Our gas and new business team are actively engaging the market already.
“We are engaging customers, off takers and helping them to put structures in place to ensure that it’s not about the gas line, it’s about the growth of the businesses, both in terms of power, industrial park, CNG extensions that are gonna come off on the back of AKK alone.”
Ojulari described the AKK as a major game changer for the country as the gas would bring several industries for significant positive impacts.
NNPC, according to him, is examining ways to further expand the Escravos -Lagos Pipeline System (ELSP) that supplies gas to the entire West zone.
The essence of the expansion is to allow the people feel the impact of the NNPC
He added that the company is also mulling the idea of extending the West African Pipeline to Morocco.
According to him: “In addition to that, we are looking at further expansion of the ELPS, as you know, which is supplying the whole Western zone and all the industrialization around LeKki and other part of the West Oil State.
All of those are part of what is in the works to ensure that our work truly impacts society and the impact can be felt. And not to mention, of course, as you are aware of, we’re also thinking about extending the WAPI, which has been the West African Gas Pipeline further north across Africa up to Morocco.
He said there is a lot of growth opportunities in the way from what NNPC is doing.
In terms of aspirations, he recalled that President Bola Ahmed Tinubu gave the new management the mandate to ramp up oil production to 3 million barrels per day and also to raise gas output to 20 billion cubic feet per day by 2030.
Continuing, he vowed that the aspiration of NNPC is to hit the gas target and for the company to meet the target of additional 500,000 barrels per day in 2030, it needs a minimum of $60 billion investment.
Ojulari said:”Our aspiration is to pitch that target on the gas. You’ve also noticed the refinery capacity where we are required to have additional refining capacity of 500,000 barrels per day by 2030. And to achieve that, we are required to bring in additional investment of minimum of $60 billion.”
He pledged the commitment of NNPC to the Extractive Industries Transparency Initiative (EITI) standards. I want to give you my commitment to increase and deeper transparency and accountability. In terms of our full compliance to the whole 90 principles and EITI global standards, you have my full commitments,” he said.
NEITI Executive Secretary, Dr. Orji Ogbonnaya Orji had informed him that the global body -EITI- sought NNPC to develop a culture of data disclosure.
Orji also requested NNPC to restore all discontinued disclosures on its platforms.
COURTESY: thenationonlineng
