bloomshorts Historic $3.5 Billion Gas Industrialisation MoU Signed
The Nigerian National Petroleum Company Limited (NNPCL), alongside the Akwa Ibom State government and the Gas Aggregator Company Nigeria Ltd/GTE (GACN), has inked a monumental $3.5 billion Memorandum of Understanding aimed at advancing gas industrialisation in Akwa Ibom. This pivotal agreement was finalized during the opening session of the South-South Gas Utilisation Forum 2025 in Uyo, marking a significant step towards regional economic development.
Key Stakeholders Gather for Momentous Occasion
The event saw the presence of notable figures including the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, and representatives from the Governors of Akwa Ibom, Cross River, and Rivers States. Leading the NNPC Ltd. delegation were Executive Vice President, Upstream, Udy Ntia, who also chairs the GACN Board, and Executive Vice President, Gas, Power, and New Energy, Olalekan Ogunleye. GACN’s Managing Director, Chijioke Uzoho, spearheaded the forum, uniting key stakeholders to foster development through gas industrialisation.
A New Era for South-South’s Economic Landscape
According to a statement released by NNPCL, this agreement underscores the South-South geopolitical zone’s dedication to leveraging gas industrialisation for collective growth and prosperity. The deal is poised to catalyze holistic development in the region, setting a precedent for future collaborations in the energy sector.
