The Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have officially launched an agreement over a Multi-billion Dollars Project Escravos Gas-to-Liquid (EGTL)
At the sign-off meeting in Abuja, speaking at the meeting the Group Managing Director of the NNPC, Mallam Mele Kyari unveiled the fact that CNL would boost the domestic gas market with 400 million standard cubic feet per day of gas supply which is virtually equal to 26 percent of total domestic gas supply in the country.
Mallam Kyari described the project (EGTL) plant as worthy in the energy ecosystem of Nigeria revealing that it has the ability to yield $2 billion dollars annually into the pocket of the federal government.
Mallam Kyari, who proclaimed the roles played by the President of the federal republic Nigeria, President Muhamadu Buhari, and the Chairman Senate Committee on gas Sen. Bassey Akpan. He stated that he has reached the point of execution of the agreement and assuring that the Federal Government is in support of the project.
During the meeting, the Chief Executive Officer of CNL who was represented by the Director NNPC/Chevron Nigeria Limited Joint Venture, Mr. Monday Ovuede said that the project would help establish chances for gas commercialization and monetization in the oil and gas industry.