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A subsidiary of the Nigerian National Petroleum Company Limited (NNPCL) Dangote Petroleum Refinery and Petrochemicals FZE have signed a 10-year Gas Sale and Purchase Agreement (GSPA).
Managing Director, NNPC Gas Marketing Limited (NGML), Justin Ezeala and the President/CEO of the Dangote Group, Aliko Dangote yesterday signed the agreement in Lagos.
NNPCL Chief Corporate Communications Officer, Mr. Olufemi Soneye, who confirmed the agreement said it is a major milestone in line with President Bola Ahmed Tinubu’s policy of utilizing Nigeria’s abundant gas resources towards revamping the nation’s industrial growth and kickstarting its economic prosperity.
This development, which sees a huge investment of this nature penned with zero capital expenditure (CAPEX) outlay, has been described by many as unprecedented in the history of NGML or any gas Local Distribution Company (LDC).
Under the terms of the agreement, NGML will supply 100 million standard cubic feet per day (MMSCF/D), 50MMSCF/D being firm supply and the rest 50MMSCF/D interruptible natural gas supply to the refinery for an initial period of 10 years, with options for renewal and growth.
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