Oil & Gas
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THE supply logjam which often impedes stable availability of Liquefied Petroleum Gas, LPG, otherwise called cooking gas, may soon be over.
The West Africa Gas Ltd, WAGL, a Joint Venture Company of Nigerian National Petroleum Corporation, NNPC, and Sahara Energy on Tuesday January 17, unveiled two LPG vessels in Ulsan, South Korea which promise to be a game changer in the supply network of the subsector.
Maikanti Baru, NNPC group managing director, who spoke at a pre-naming ceremony dinner held on Monday, January 16, in Ulsan, South Korea, said he was delighted that the venture which was established in 2014 had started to record success even within a short span.
Baru said the milestone was a boost to the LPG business in Nigeria.
As it is customary, ships are named by the spouses of the sponsors, often referred to as “godmother of the vessels”. In this case, spouses of the GMD and COO Gas & Power performed the naming ceremony.
The 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 is run 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 company was expected to take the delivery of two vessels – Hulls 8182 and 8183 – from the renowned Korean ship building company, Hyundai Mipo Dockyard Limited on Tuesday, January, 17.
— Jan 17, 2017 @ 14:15 GMT
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