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China-Africa Trade Information Service
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China-Africa Trade Information Service
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The Nigerian National Petroleum Corporation, NNPC, has stated that attracting investors to use gas utilisation drive and creating value for the economy causes different gas prices in the domestic market.
The Chief Operating Officer, Upstream, Nigerian National Petroleum Corporation, NNPC, Mr. Bello Rabiu, made this known yesterday, at the just concluded Society of Petroleum Engineers, Nigeria Annual International Conference and Exhibition in Lagos.
"As incentives, we have one gas price for power, another for industries, so that they can have cheaper energy. Also, there is a different price for gas-based industries such as fertilizers and petrochemicals. This is aimed at arriving at a willing buyer, willing seller model of pricing."
He further stated that, "The end goal of this is so that Nigerian companies in these industries can compete favourably with companies that produce similar products around the world. In this sense a Nigerian fertilizer manufacturer should be able to compete with other fertilizers makers around the world."
"To ensure there is willing buyer, willing seller model in the domestic gas market, the NNPC decided 5 billion standard cubic feet of gas daily, will be able to sustain supply and sufficiency of gas to the domestic market."
Also speaking, the Managing Director, Shell Nigeria Exploration and Production Company, SNEPCo, Bayo Ojulari, said: "If the right people are placed in areas where we want things to be done, this country will move forward.
Apart from human capacity in oil and gas business, human capacity in diversify economy, is the key element NNPC needs to focus on.
