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 will on 17th January, unveil two LPG vessels in Ulsan, South Korea which promises to be a game changer in the supply network of the subsector.
NNPC Group Managing Director , Maikanti Baru, who spoke at a Pre-Naming Ceremony Dinner held on Monday 16 January in South Korea, said he was delighted that the venture which was established in 2014 had started to recorded success even within a short span.
Baru said the milestone was a boost to the Liquefied Petroleum Gas (LPG) business in Nigeria.
WAGL, 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 is expected to take the delivery of two vessels – Halls 8182 and 8183 – from the renowned Korean ship building company, Hyundai Mipo Dockyard Limited.