Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo on Friday said investments in Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG) facilities are pivotal for Nigeria’s energy security soliciting the partnership of private sector investors in developing these critical infrastructure.
Ekpo stated this at the commissioning of the 3.1million metric tonnes standard cubic feet per day (MMscfd) CNG and groundbreaking of 5.2MMscfd Liquefied Natural Gas LNG facilities undertaken by Tetracore Energy Group in Ogun State.
The Gas Minister commended the management of Tetracore Energy Group for committing funds into CNG and LNG projects saying their investment are “essential steps in enhancing Nigeria’s energy security.”
Ekpo states, “the development of CNG and LNG facilities are critical components of Nigeria’s strategy to diversify energy sources, promote cleaner fuels, and ensure energy security for our people.”
Continuing he said: “Natural gas is a pivotal element in the global transition towards more sustainable energy systems, providing a cleaner alternative to traditional fossil fuels, while supporting the integration of renewable energy sources. The use of CNG in transportation will reduce our reliance on imported fuels and lower greenhouse gas emissions, aligning with our commitments to the Paris Agreement and our national climate goals. These projects will drive economic growth, create jobs, and improve the quality of life for our citizens.”
Ekpo restated President Bola Tinubu’s commitment to the creation of an enabling environment that encourages investment in the gas sector.
This includes implementing favourable policies, providing incentives for infrastructure development, and ensuring regulatory frameworks that promote efficiency, and sustainability.
He expressed the optimism that Tetracore Energy Group’s projects will serve as a catalyst for further investments in the gas industry, fostering innovation and enhancing the country’s energy infrastructure.
“It is through such initiatives that we can achieve our shared vision of a prosperous energy future for Nigeria,” he said.
