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NNPC Progresses Floating LNG Project With Golar LNG

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. . . Signs PDA On 400-500mmscf Gas Deal, Eyes FID Before Dec 2024 Ending

In furtherance of its commitment to monetize Nigeria’s vast natural gas resources, the NNPC Limited has executed a Project Development Agreement (PDA) with Golar LNG for the deployment of a Floating Liquefied Natural Gas (LNG) offshore Niger Delta, Nigeria.

The signing ceremony, held on Monday June 10, 2024, and was attended from the NNPC Limited side by the Chief Financial Officer, Umar Ajiya; Executive Vice President, Gas Power & New Energy, Olalekan Ogunleye and Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan while the Golar LNG team was led by – Karl Fredrik Staubo (CEO).

The PDA is another major milestone achievement towards ensuring gas commercialization through deployment of an FLNG Facility in Nigeria, which is in line with President Bola Ahmed Tinubu’s resolve to rapidly commercialize Nigeria’s gas assets for the economic prosperity of Nigeria.

Biztellers reports that the agreement aims to monetize vast proven gas reserves from shallow water resources offshore Nigeria.

The PDA also outlines the monetization plan that will utilize approximately 400-500mmscf/d and produce LNG, LPG and Condensate.

The Partners, NNPC Limited and Golar LNG have both expressed their commitment to achieve Final Investment Decision (FID) before end of Q4, 2024 and first gas by 2027.

Golar LNG Limited is a renowned independent owner and operator of LNG infrastructure, including carriers, floating storage and regasification units (FSRUs), and floating liquefaction (FLNG) vessels.

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Ondo, Ekiti Prepare For Two-Month Power Outage

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The Transmission Company of Nigeria (TCN) has announced plans to carry out essential maintenance on the 132kV Akure-Osogbo transmission line, leading to power disruptions in Ondo and Ekiti States over the next two months.

According to a public notice cited by Naija News, the maintenance work will cause power outages in these states for nine hours daily from July 1 to August 31.

The notice specifies that the maintenance will involve the installation of Optical Ground Wire (OPGW) and other necessary activities that require a temporary outage on the affected network to ensure a safe working environment.

The TCN’s notice read, “Please be informed that the Transmission Company of Nigeria, TCN, is scheduled to carry out critical maintenance work on the 132kV Akure Osogbo transmission line.

“The planned work involves the installation of Optical Ground Wire (OPGW) and other activities. This will require outage on the affected network for safe working space.

“Customers in the affected areas will experience service interruptions during the period of the planned outages. We sincerely apologise for the inconvenience this may cause and kindly solicit your patience and understanding.”

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Protection Of Africa’s Natural Carbons Sinks Will Enhance Sustainability – Sahara Group

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Protecting and rehabilitating Africa’s natural carbon sinks, such as forests, oceans, coastal mangroves, wetlands and grasslands can significantly aid in mitigating the effects of climate change.

This view was expressed by Director, Governance and Sustainability, Sahara Group, Ejiro Gray, at the maiden edition of Asharami Square, Sahara Group’s initiative aimed at promoting sustainability through media advocacy.

According to Gray this developing intentional policies and investments on protecting the continent’s carbon sinks would enhance carbon sequestration and reduce net emissions.

She maintained that these natural landscapes act as significant carbon reservoirs, absorbing and storing carbon dioxide (CO₂) from the atmosphere, adding that developing reforestation and afforestation programs, implementing strict conservation policies, and providing financial incentives for conservation projects are critical for combating climate change in Africa.

Gray pointed out that Natural Gas Development and Commercialization, Increase Use of Renewables, investment in low-cost/low emissions clean energy solutions, Carbon Capture Storage/Carbon Capture and Reutilization are other factors that can help accelerate Africa’s march towards sustainability.

“Natural gas presents a viable opportunity to serve as a transition fuel as Africa continues to gradually invest in renewable energy. It is a relatively clean-burning fossil fuel, producing fewer CO₂ emissions compared to coal or petroleum. In 2021, Africa’s natural gas reserves totalled over 620 trillion cubic feet. By developing and monetizing these reserves through processing and eventual usage of CNG, LNG, LPG and other gas products, Africa can leverage its natural gas resources to support sustainable energy development,” Gray said.

On the role of the media in promoting sustainability, Head, Corporate Communications at Sahara Group, Bethel Obioma, said that Africa needed to articulate and promote a robust sustainability narrative that leaves no one behind in issues relating to climate change, energy access and energy transition, among others.

“To achieve this, Sahara Group hopes to make Asharami Square a formidable platform through advocacy and collaboration towards shoring up capacity and participation of all segments of the media to drive accuracy, clarity, impact, positive policy formulation, agenda-setting and collective action,” he said.

Obioma noted that Asharami Square would feature mentoring, training, exchange programs, facility tours for media practitioners and competitions to recognise and celebrate exceptional reporting of sustainability in the media.

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Nigeria Sees Over 12 Million Electricity Consumers In Q1 2024 – NBS

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The latest report from Nigeria’s National Bureau of Statistics (NBS), has revealed that the number of electricity users in the country saw a notable increase in Q3 2023.

According to the NBS Electricity Report for the first quarter of 2024, released in Abuja on Tuesday, the total number of electricity consumers surged by 210,000, reaching 12.33 million from 12.12 million in the final quarter of 2023.

This growth, representing a 1.78% increase, underscores a significant uptick in electricity usage across Nigeria.

The report further details that Distribution Companies (DISCOS) served a total customer base of 11.27 million during the first three months of 2024, marking a robust 9.47% expansion compared to the same period last year.

Moreover, the number of customers equipped with meters rose to 5.91 million, reflecting a 5.38% increase from the previous quarter. Year-on-year, this figure translates to an 11.26% rise from the first quarter of 2023.

Additionally, the report highlighted a notable increase in estimated electricity users, which reached 6.43 million in Q1 2024, indicating a 10.22% growth from Q4 2023’s figure of 5.83 million.

It said “On a year-on-year basis, the figure grew by 11.26 per cent from the 5.31 million reported in Q1 2023.

In the first quarter of 2024, Nigeria experienced a notable increase in estimated electricity users, reaching 6.43 million—a 10.22% rise from the 5.83 million users recorded in the fourth quarter of 2023.

Comparing year-over-year figures, this marks a 7.88% increase from the 5.96 million users reported in the same period the previous year.

Despite this growth in user numbers, there was a slight dip in revenue for electricity distribution companies.

According to the National Bureau of Statistics, these companies earned ₦291.62 billion in the first quarter of 2024, down from ₦294.95 billion in the preceding quarter of 2023.

However, the National Bureau of Statistics reported that despite the slight decrease in revenue from the fourth quarter of 2023, which was ₦291.62 billion in the first quarter of 2024 compared to ₦294.95 billion, there was a notable 17.91% increase from the ₦247.33 billion earned in the first quarter of 2023.

In terms of electricity supply, the report highlighted that the supply in the first quarter of 2024 was 5,769 GWh, down from 6,432 GWh in the fourth quarter of 2023.

Additionally, compared to the first quarter of 2023, which saw a supply of 5,851 GWh, there was a modest 1.41% decrease in supply in the first quarter of 2024.

 

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