Chineme Okafor in Abuja
The Nigerian National Petroleum Corporation (NNPC) and Sahara Energy have said the existing supply logjam which often impede the availability of Liquefied Petroleum Gas (LPG) or cooking gas may soon be over with the delivery of two LPG cargo vessels from South Korea.
Trading under the West Africa Gas Ltd (WAGL), the NNPC said the joint venture company it formed with Sahara Energy would today unveil the two LPG vessels in Ulsan, South Korea.
It said the two vessels would be game changers in the LPG supply market.
A statement from the Group General Manager, Public Affairs of the NNPC, Ndu Ughamadu yesterday stated that NNPC’s Group Managing Director, Dr. Maikanti Baru, was at the pre-naming ceremony dinner for the vessels in Ulsan, where he expressed delight at the development.
The statement said Baru noted that the venture which was established in 2014 had started to record success within a short span. He also said the milestone was a boost to LPG business in Nigeria.
It said the company would take the delivery of the two vessels – Halls 8182 and 8183, from the renowned Korean ship building company, Hyundai Mipo Dockyard Limited.
According to it, WAGL JV which was incorporated in March 2013 will serve as a vehicle for off-take, marketing and trading of Natural Gas liquids (NGLs) across Africa and beyond.
The JV, it explained is operated by two companies, NNPC LNG Ltd, a wholly-owned subsidiary of NNPC and Sahara Energy’s oil and gas trading arm, Ocean Bed Trading Ltd (BVI).
The operational structure of the JV from its website, also said it would transport up to 20,000 metric tonnes (MT) of LPG cargoes from source to West African markets via mid-size vessels.
