OKLNG is the largest Oil and Gas industry project in Nigeria with excellent opportunities for the economy. Its location and technical design offer the following strategic and economic advantages:
- Increased gas export revenues from OKLNG will complement existing oil and gas revenues.
- The site was carefully chosen to minimise environmental and social impact.
- The plant includes facilities for processing gas for the domestic market, thereby improving domestic supply.
- OKLNG is part of a portfolio of projects in Nigeria’s Gas Master Plan.
- It Underpins expansion of infrastructure towards major domestic demand centres and WAGP. It is close to the Lagos market. vi. Economies of scale to enable asset development in existing and emerging gas producing Nigerian States.
- It has no impact on resources for current domestic gas requirements.
- It will drive medium term gas exploration and development.
- It will provide capacity building in local community for ongoing business relationships with OKLNG.
- The construction phase will employ more than 10,000 workers and build Nigerian capacity.
- It improves Nigeria’s Global LNG position and revenue from gas exports. NNPC considers OKLNG project as a critical part of its LNG project portfolio required to maintain Nigeria’s 10% global market share.
- The project will generate over 2 mtpa of LPGs for export and domestic consumption.