NNPC Unveils $16 Billion Gas
Infrastructure Investment Opportunity
·
Set to Commence Site clearing of Multi-billion dollar Ogidinbge Gas
Industrial Park in Delta State
·
Says President’s Gas Revolution Agenda in full throttle
The
Nigerian National Petroleum Corporation, NNPC has outlined a comprehensive gas
infrastructure development programme projected to attract an industry wide
investment outlay of over $16billion within the next four years.
Providing
details of the gas infrastructure development drive in a presentation at the
recently concluded Offshore Technology Conference in Houston, Texas, Dr. David
Ige, Group Executive Director, Gas and Power of the NNPC, said the aspiration
for gas development is anchored on the three point strategic focus of the Gas
Master Plan.
Under the
strategic themes of the GMP, it is envisaged that the plan will deliver gas to
power for at least threefold increase in generation capacity by 2015, achieve
reasonable level of gas based industrialization by positioning Nigeria as the
undisputed regional hub for gas based industries such as fertilizer,
petrochemicals and methanol by 2014. This item is the corner stone of the
President’s Gas Revolution Agenda. The GMP is also focused on achieving high
value export via LNG and regional export drives.
Dr. Ige
said the ongoing work to consolidate the agenda has thrown up investment
opportunities in the gas sector to the tune of $16billion.
`` Opportunities
for investments exist in the areas of Financial Services, Gas Transmission
Pipelines, Pipe Milling and Fabrication Yards, Upstream Gas Development, LNG
and LPG Plants and Gas Processing Facility/Gas Based Manufacturing
Industries,’’ he said.
On the
proposed Ogidingbe Gas based Industrial Park, the NNPC GED said that investment
opportunities are available in the areas of Free Trade Zone Infrastructure,
Port Infrastructure and Real Estate Development.
He stated
that that the park which is designed to emerge as Africa’s largest Gas City
ultimately aims to create the largest gas industrial park Sub-Saharan Africa
with Fertilizer, Methanol and Power projects.
Dr. Ige
explained that after initial choice of Koko as site for the project, Ogidingbe
emerged as the new site due to the potential high cost of dredging the 90km
Koko access route to the Ocean.
``Ogidingbe
has some natural features which made it the choice location based on technical
consideration. It has the desirable location by the sea hence better draught
than Koko, it is also located by the Escravos River for inland access, it has
proximity to existing gas infrastructure via the Escravos Lagos Pipeline System
thus enabling relatively easy gas access with less pipeline infrastructure
development cost,’’ he said.
On the
attitude of the Delta State Government and the Host Community to the project,
Dr. Ige described their outlook as supportive.
``The
people of the area are excited about the project, His Royal Majesty, the Olu of
Warri has been supportive and the State Governor has encouraged us in every
step of the way, the Governor has already approved and issued the Cof O
for the 2,700 hectare site.’’ He said.
The GED
informed that phased work on the project with massive job creation and service
opportunities would commence later this month with clearing of the access site
in Ogidingbe, Warri South West Local Government Area of Delta State.
``Potential
services required at this stage include: equipment rentals like
bulldozers, chain saws etc; Labour services which includes catering,
procurement services; Timber Processing and Marketing as well as hospitality
services among many others.’’
Providing a
timeline of activities for the project, he said it is envisaged that work would
commence on the Ogidingbe FTZ full infrastructure development and Pre-Front End
Engineering Design of the Central processing Facilities also known as CPFs in
June this year while the Final Investment Decision for the CPFs is slated for
June 2014.
In January
2015 construction work on the CPFs would begin and in March same year work
begins on real estate development of the Ogidinbge area to service the
industrial park while the construction work of the petrochemical complex
tees-off in 2016/2017.
Tumini Green
Acting Group General Manager
Group Public Affairs Division
NNPC, Abuja
13/05/13
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