Bloomfield LP's Energy Practice brings you highlights of interesting energy developments in Nigeria February 05, 2024.
Nigerian National Petroleum Corporation Limited in Talks with South Korean Investors for Gas Projects
The Nigerian National Petroleum Corporation Limited ("NNPCL") has held discussions with a South Korean consortium led by Daewoo E & C on the development of gas projects in Nigeria. The meeting which held in Seoul, South Korea, was aimed at deepen- ing NNPCL's drive to tap into the nation's vast gas resources to be a supplier of clean and affordable energy to the global market.
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Jigawa State Partners Kano Electricity Distribution Company for Stable Renewable Power
The Jigawa State Government and the Kano Electricity Distribution Company ("KEDCO") have signed an innovative partnership that will ensure stable electricity across the State. Under the deal, Jigawa State, in partnership with Future Energies Africa, the new core investor in KEDCO, will be increasing its shareholding in KEDCO from seven point five percent (7.5%) to ten percent (10%) while also committing KEDCO to an electrification partnership.
Read more at::
https://businessday.ng/energy/article/jigawa-partners-kano-disco-for-stable-renewable-power
Dangote Refinery to Import Crude Oil from the United States of America
The Six Hundred and Fifty Thousand Barrels per day (650,000 bpd) refinery which was commissioned on May 22, 2023, and begun operations on December 12, 2023, is set to import crude oil from the United States in the coming months.
Trafigura Group has sold Two Million (2,000,000) barrels of West Texas Intermediate Midland to the Dangote refinery to be delivered by the end of February. This is reported to be the first time that the Dangote refinery will purchase non-Nigerian crude.
Read more at:
https://nairametrics.com/2024/01/29/dangote-refinery-to-import-crude-oil-from-the-united-states
Olorunsogo and Omotosho Power Plants Operating below Twenty-Five Percent (25%) due to Gas Short- age
The Minister of Power, Mr. Adebayo Adelabu, during a visit on January 31, 2023, to the Olorunsogo and Omotosho power plants (the "Power Plants"), stated that the Power Plants were operating below twenty-five percent (25%) capacity because of gas shortage which further curtails power generation across the country.
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Chinese Contractors Starts Pre-Feed Work for Two (2) Nigerian Floating Liquefied Natural Gas Projects
In a bid to boost Nigeria's Liquefied Natural Gas ("LNG") industry, Chinese contractor, Wison New Energies, has begun Pre-Front-End Engineering and Design ("Pre-FEED") work for two major Floating Liquefied Natural Gas ("FLNG") Projects (the "Projects").
The Projects, each with a capacity of three million tonnes per annum (3,000,000 tpa), are owned by Nigerian companies, Ace Gas and FLNG Co. Limited and TransOceanic Gas & Power Limited. Wison New Energies, formerly known as Wison Offshore & Marine, was awarded the contract following the execution of agreements and mobilisation funding disbursement.
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