Connect with us

Business News

NLNG Stops Cooking Gas Export, Targets Local Market

Published

on

By Modupe Gbadeyanka

In an effort to crash the price of cooking gas in the country, Nigeria LNG (NLNG) Limited intends to stop exporting Liquefied Petroleum Gas (LPG) to other countries.

In a statement on Thursday, the agency said all its gas would be supplied to the local market, a development it hopes will boost supply and consequently ease prices.

To make this a reality, the board of NLNG has endorsed this and in the coming weeks or months, the impact of this action would be felt by Nigerians, who have lamented the high cost of refilling their gas cylinders.

NLNG is currently the highest single supplier of LPG into the domestic market, with an estimated 400,000 metric tonnes supplied in 2021.

“In 2021, we increased our LPG supply commitment from 350,000 metric tonnes (or 28 million 12.5kg cylinders) to actual delivery of 400,000 metric tonnes (or 32 million 12.5kg cylinders), thereby directing most of our production into the domestic market.

“But this was not enough for NLNG, hence, this commitment to do all that we possibly can and supply 100 per cent of our LPG production to the domestic market,” the CEO of NLNG, Mr Philip Mshelbila, stated.

He noted that the focus on the domestic market marked the company’s strong commitment to its passion to increase the utilisation of one of the most versatile energy sources in the world.

“Committing 100 per cent of our LPG supply is a major milestone in our journey of domestic gas supply. We supplied our first butane cargo into the domestic market in 2007, which helped to develop over the years the LPG industry in Nigeria from less than 50,000 tonnes to over one million tonnes market size annually by the end of 2020,” he added.

He described gas as the cleanest of fossil fuels, stressing that it has become an essential energy source to be reckoned with during this energy transition period.

“Other countries are revolutionising their energy industry to cut down on carbon emissions drastically. Nigeria should not be left out in this drive, considering its abundant gas resources.

“Gas is essential for life and living at the moment because it can support everything we will need to develop our economy and create better living standards for Nigerians. We need to change the narrative, and NLNG is being pragmatic about it,” he noted.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entertainment4 mins ago

Please you both should give us that collaboration we have been waiting for, Burna Boy will sing the hook – Rapper CDQ tells Wizkid and Davido.

Health8 mins ago

Unhealthiest Foods for Your Heart After 50, Say Dietitians

World14 mins ago

Pakistan: Woman to be ‘hanged by her neck till she is dead’ for Muhammad images on WhatsApp

Local18 mins ago

Lagos Marine Bridge rehabilitation 66% completed: Official

Politics28 mins ago

Odudu Ime Otutu crowned ‘Ultimate Craftsman‘  Gulder Ultimate Search coronation party

News34 mins ago

Being career woman is good but home mustn’t suffer –businesswoman, Ogundipe

Politics38 mins ago

Animal protection activists intensify laying hens’ welfare campaign

Local40 mins ago

Military trains 103 southern Kaduna youths on armed combat, intelligence gathering

News44 mins ago

PDP chair, ex-govs, NWC in closed-door meeting with Obasanjo

Politics48 mins ago

Insecurity: Military taskforce trains 103 civilians on armed combat 

Politics58 mins ago

JABU best graduating students get automatic employment

Entertainment58 mins ago

“He collect my gee babe ni ooo” – Viral singer, Portable accused of snatching a man’s girlfriend in Kenya (Videos)

Local1 hour ago

U.S. suspends 44 flights by Chinese carriers in retaliation against China

Entertainment1 hour ago

Ikorodu Bois hilariously reenact video of Wizkid and Davido hugging each other last night (Watch)

Health2 hours ago

The #1 Worst Supplement to Take for Colorectal Cancer, Says Study

News2 hours ago

Bandit attacks: Kaduna youths recieve armed combat training

News2 hours ago

Ayra Starr marks one year in music industry, promises never to disappoint fans

News2 hours ago

Driver crushed to death in Anambra road crash

Politics2 hours ago

JUST IN: Iyorchia Ayu, Mimiko, Obi, others in closed-door meeting with Obasanjo

News2 hours ago

Delta suspends road rehabilitation over poor quality

Local15 hours ago

Amaechi bags traditional title from Daura, to be turbaned February 5

Business News24 hours ago

Tough Times Await Promoters of Unregistered Investment Schemes

Entertainment7 hours ago

“It’s either private, first or business class” – Annie Idibia says she can never fly economy class

World23 hours ago

UK: nearly 1000 more illegal Muslim migrants enter Britain via English Channel this month

Politics22 hours ago

Plateau Verification Committee uncovers 709 civil servants with false ages

News22 hours ago

Borno student slits 11-year-old’s throat for refusal to run errands

News15 hours ago

Sammie Okposo, Nathaniel Bassey, others set for Tope Alabi’s concert

World17 hours ago

Texas Temple Terrorist Tablighi Jamaat Connection Confirmed

Politics23 hours ago

COVID-19: Oyo govt distributes first aid kits to 250 BESDA learning centres

News15 hours ago

Govt moves to revive six moribund ports

Entertainment8 hours ago

Lady recounts how her fiancé ghosted her few weeks to their wedding, after flying her to Dubai to propose (video)

Entertainment8 hours ago

“What we share is beyond friendship” – Actress, Eniola Badmus reacts to rumours about her strained friendship with her colleague, Funke Akindele

Entertainment8 hours ago

“What we share is beyond friendship” – Actress, Eniola Badmus reacts to rumours about her strained friendship with her colleague, Funke Akindele

Politics23 hours ago

Civil society protests in Benin over planned hike in fuel price, electricity tariff

World15 hours ago

Biden Against Israel Pipeline to Europe, Fine With Putin’s Pipeline

Relationship23 hours ago

How To Know If You Have A Fear Of Commitment & How To Overcome It

Local20 hours ago

U.S. to offer North Korea 60 million doses of COVID-19 vaccine

Entertainment21 hours ago

Grace!! Moment generous Lagos traffic street hawker met with Billionaire, Obi Cubana who offered him scholarship and employment (Video)

Politics21 hours ago

Olu of Warri visits 105-yr-old Delta monarch, says date of birth symbolic

News3 hours ago

Killers, robbers in Kirikiri mocked, beat me for being a crimeless inmate –Borno man framed for #EndSARS violence

Trending