NNPC seeks European market for gas

The Nigerian National Petroleum Corporation (NNPC) has disclosed that it is looking for more markets for the nation’s gas on the European continent in order to generate maximum economic benefit from the nation’s enormous gas resources.

Andrew Yakubu, the group managing director of NNPC, made this revelation while playing host to a Belgian business delegation under the auspices of the Flanders Investment & Trade Mission in his office at the NNPC Towers, Abuja, over the weekend.

“Europe is a good market for gas. Incidentally, Belgium has important terminals such as the Port of Antwerp through which Nigeria hopes to get its gas to the rest of Europe. We are working on independently marketing our abundant gas resources to Europe,” Yakubu stated.

The GMD who was represented by the coordinator, corporate policy & strategy, Tim Okon, said NNPC would strategically position itself to attract investments to boost the nation’s economy, adding that “gas is a strong mechanism for not only power generation and job creation, but also for growth and development.”

He also reiterated the need for collaboration between foreign investors and Nigerian businesses in order to domesticate the gas industry in the country.

Earlier in his address, the leader of the delegation and the Belgian ambassador to Nigeria, Dirk Verleyen, said that no fewer than 60 Belgian companies had indicated interest to invest in Nigeria.

He said that Belgian companies wishing to invest in Nigeria cut across various sectors including energy, telecommunications, construction, transport, postal service, entertainment, engineering and agriculture.