The Federal Government has pledged to implement policies and laws to establish a level playing field for participants in the energy sector. The commitment was emphasized by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, during the groundbreaking ceremony for the NESGAS 50,000 Metric Tonnes (MT) Liquefied Petroleum Gas (LPG) Depot Project at the Oil and Gas Free Trade Zone, NPA Complex Onne, Rivers State.
Ekpo highlighted the significance of the private sector’s dedication to investing in infrastructure that supports the storage, delivery, and consumption of green energy. He assured that the government would work to create transparent laws to facilitate smooth operations in the sector, emphasizing the pivotal role of the private sector in driving the nation’s socio-economic agenda.
The NESGAS 50,000 MT LPG Depot Project, a collaborative effort involving NESGAS Producing Limited, GAS360, Modern West Advisory, and Hebron Gas Infrastructure Company, signifies a major step toward cleaner and more sustainable energy sources. Ekpo noted the importance of gas as a cleaner energy source, meeting energy demand, and mitigating environmental impacts associated with traditional fossil fuels.
The Managing Director and CEO of NESGAS, Tunde Banjo, described the project as a new chapter in Africa’s energy story, contributing to socio-economic growth and environmental sustainability. The CEO of GAS360, Emmanuel Uwandu, emphasized the project’s potential to benefit around three million small businesses, advocating for the incorporation of NESGAS into Nigeria’s economic planning.
During a panel discussion on ‘Strategies for Successful Market Penetration in LPG Industry,’ participants highlighted the need for massive gas production for public and environmental welfare. The event also featured the signing of agreements, partnerships, and a discussion on policy, funding, LPG supply, local content, and domestic partnerships in the LPG industry.
