Mkpoikana Udoma
Port Harcourt — Nigeria’s gas sector has recorded a significant financial uplift as Temile Development Company Ltd, TDC, secured a landmark contract with Hyundai Heavy Industries, HHI, for the construction of an 88,000 cubic meter Very Large Gas Carrier, VLGC, reinforcing indigenous participation in the gas value chain.
The $250 million contract, signed in London yesterday, alongside a construction supervision agreement with NLNG Shipping & Marine Limited, NSML, raises TDC’s cumulative investments in the gas sector to over $450 million in the past four years.
Speaking, the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, described the deal as a significant milestone toward achieving the Federal Government’s “Decade of Gas” agenda and praised the indigenous firm for its bold financial commitment.
“This project will bring Temile’s total investment to date in the gas value chain to over $450 million in the last four years. This is a significant and strategic financial commitment, reinforcing local participation in a sector critical to our national economic diversification agenda,” Ekpo stated.
The Minister noted that the investment aligns with the objectives of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes economic development, poverty eradication, and wealth creation.
“Today, we celebrate not just an investment in infrastructure, but a bold expression of belief in Nigeria’s gas potential and in the capability of indigenous companies to lead transformational change in our energy landscape,” Ekpo added.
He also reaffirmed the government’s commitment to providing incentives that support sector growth and called on other oil and gas operators to recommit to collaboration, innovation, and local content development.
Speaking at the event, TDC boss, Mr. Alfred Temile, expressed gratitude to the Federal Government and stakeholders, affirming the company’s strategic role in expanding Nigeria’s gas infrastructure.
“This deal reaffirms our role as a strategic stakeholder in Nigeria’s gas value chain development. TDC remains highly committed to driving critical investments in partnership with key sector players in support of Nigeria’s Decade of Gas initiative.”
With the new gas carrier set to enhance Nigeria’s export and transportation capacity, stakeholders believe the project will further strengthen Nigeria’s position in the global energy transition, while building domestic capacity and creating employment opportunities.
