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Posted On

23
May
2022

NNPC Acquires Two New Vessels To Boost Gas Exports

The Group Managing Director/Chief Executive Officer of the Nigerian National Petroleum Company Ltd, Mele Kyari, has named one of Nigeria’s two new gas vessels after former GMD, Maikanti Baru, a move to immortalise the late NNPC boss.

The decision was announced during the traditional naming ceremony of the vessels at the headquarters of Hyundai MIPO Dockyard ULSAN for two Liquified Petroleum Gas (LPG) vessels built for West Africa Gas Ltd (WAGL).

WAGL is a joint venture company between NNPC and Ocean Bed .

The naming ceremony was held at the shipyard Ulsan, South Korea to commemorate the two new vessels that will sail out in June and September 2022.

The NNPC said one of the vessels was named MT SAPET in honour of a partnership between WAGL and Côte d’Ivoire.

The other- MT BARUMK was also named in honour of Late GMD of NNPC Dr Baru.

The lady sponsors at the ceremony were Mrs Shonubi and Mrs MK Baru (wife of late GMD) for MT SAPET Gas and MT BARUMK Gas, respectively.

Kyari had recently announced Nigeria’s plans to extend its gas network to Europe in a bid to harness the multi-billion dollar industry.

The GMD said the delivery of the new vessels is in line with the vision of satisfying the domestic market with hopes to deliver gas into the international market in a few years.

The national oil company’s GMD also revealed that the vessels would grow to ten in the next ten years, a move that would help the company transit into a world class commercial gas company.

He said, “I want to thank the management and staff of Hyundai Mipo Dockyard for doing an excellent job for this vessel and for supporting us and for making our business work for all of us.

“We will do three vessels and make it ten within the next ten years period to ensure that our company is transiting immensely to a world class national/internal gas company with a very commercial outlook, but particularly focus on delivering gas into the international market.

“This is one of the many ways we are building our partnership to make sure that this works for our country and the global energy market and we are very proud of our relationship with our partner, the Sahara Group.

“Creating the West African Gas Ltd (WAGL) was a historical event and today, we are seeing the value coming on the table and we trust that this relationship will continue to thrive so that we will continue to add value to our business and more importantly to all stakeholders including the Dockyard that are here present today.”

Kyari also spoke on the legacies of the late GMD, Baru who died on May 29, 2020.

According to him, naming the vessels after the late GMD was to immortalise him for his role during his tenure in the NNPC Ltd.

“Dr (Maikanti) Baru was our mentor and of course a great man and a man of honour and we have no hesitation whatsoever naming this vessel after him. In his very great memory and particularly moreso that people of this nature and in this position must be remembered and we believe that this vessel is a very great sign that he lives long and he lives amongst us for a long time to come.

“I enjoin all of us to wish him eternal rest as we continue to do things that he has encouraged us, which is to do our best whenever we have the opportunity and we have the privilege and this is one of them.

“We are happy to work so that this partnership will grow and ultimately our parallel businesses will support each other and also contribute to the overall energy market that we all try to service.

“More than anything that our company through this venture will deliver value to our shareholders- more than 200 million Nigerians who are looking up to this company to deliver energy and value into the market,” he added.

The event was attended by the Ambassador of Nigeria to Korea, Aliyu Magashi, Chairman, Sahara Group and Director of WAGL, Mr Temitope Shonubi, Chairman WAGL Abdulkabeer Ahmed, NNPC Group Executive Director (Upstream) Engr Adokiye and other dignitaries.

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