The Nigeria National Petroleum Company Limited (NNPCL) Chief Executive Officer (CEO), Mele Kyari, gave the assurance that the country's citizens would receive enough gas.Speaking at the Gas Aggregation Company of Nigeria's (GACN) new identity and logo presentation ceremony in Abuja, Kyari stated that the NNPCL is committed to collaborating with gas industry players to accomplish the goal.
"We'll put gas on the domestic market to ignite the spark our nation needs to start the revolution everyone has been waiting for," he declared. We are now prepared for business, bringing the knowledge that we are a gas-producing nation with related oil.
And because of this industry, we will need to build the necessary infrastructure to supply gas to the domestic market.The market must be established. That is only possible if gas prices are reasonable.
"Until we have reasonable gas prices that allow people to pay their bills, pay for the gas they use, and allow us to generate the gas that is sold, we will not be able to enjoy anything.
And at this point in our nation's history, these linkages are extremely important. As everyone is aware, the topic of adoption is energy transition, and even at this point, the discussion has focused on using CO2 as a transition fuel.
"Say whatever you want, but get it done.And until we collaborate to build the necessary infrastructure, the market for the gas, and the economy to pay for it, we will eventually recognize the value that the gas business can bring to our nation.
And because we, the NNPCL, are aware of the crucial role we must play and because we comprehend our involvement from upstream to the filling stations, or wherever that ends, we have taken a greater interest in the GACM. As a result, we have increased our presence within the company from 30 to 40 percent.
"In order for us to finally be able to bring anything to the table and then fulfill the goals of our government in order to establish this new hope that the President is concentrating on." Not just hope, but hope that is now able to be carried out.
We now understand that it is useful. Additionally, we recently inked a shareholders agreement for the frontier energy projects, which would generate N1.8 billion in revenue annually.
We won't, however, stop there. We are working on several additional projects. They are now able to communicate.In order to export, they must also establish markets. We'll arrive. In the end, we have plans, but we are not present. However, we are aware of the measures we are supporting to have more LNG projects and to revive fixed LNG projects that have been abandoned.
"We're at work.We don't want to talk about it or make any reference to names or places. However, we are aware that this is a work in progress, and the goals are really attainable. It is the result of numerous elements coming together.
According to Ekporikpo Ekpo, Minister of Petroleum Resources (Gas), this historic event affects not only GACN but the whole gas industry in Nigeria.
"A transformative state towards actualizing the federal government of Nigeria's ambitious vision for gas penetration nationwide in line with the already existing and legal policies to create a thriving domestic gas sector that will contribute to national development," he said, referring to the rebranding and expansion of GACN's mandate.
"The GACN has purposefully expanded the scope of its services beyond just facilitating gas supply agreements to include supporting the expansion of the domestic gas market. This function has been essential in forming Nigeria's gas industry.
"I think GACN's expanded mandate and new identity will further solidify its position as a major industry catalyst."
The company was granted a license by the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to operate an enlarged mission in the domestic gas sector, according to Engineer Farouk Ahmed, CEO of the organization.
According to Section 153 of the Petroleum Industry Act (PIA), 2021, he stated, "The NMDPRA has the authority to grant and issue a domestic gas operations license, as well as to open approval on application and payment of prescribe fees."
Accordingly, "Gas Aggregator Company of Nigeria Ltd/Get (Limited By Guarantee)" was granted a domestic gas operations license following careful evaluation and meeting all prerequisites.