Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Nigeria’s gas sector gets $450m boost as Temile seals new carrier deal

    Nigeria’s gas sector gets $450m boost as Temile seals new carrier deal

    April 13, 2025
    Share
    Facebook Twitter LinkedIn WhatsApp
    *Parties to the deal

    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.

    Related News

    Russia and Bahrain in advanced talks over LNG supply deal, sources say

    EU asks 44 oil and gas producers to provide new CO2 storage solutions

    Rivers Administrator demands stronger prosecution of oil thieves

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    TotalEnergies CEO defends company against East Africa abuse allegations

    May 24, 2025

    Firm invest N2 billion to scale up solar energy access in Nigeria

    May 24, 2025

    Russia and Bahrain in advanced talks over LNG supply deal, sources say

    May 24, 2025

    Are OPEC’s forecasts driving crude oil into a new downtrend?

    May 24, 2025

    Saudi Aramco seeks investors in Jafurah infrastructure assets, sources say

    May 24, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.