April 20, 2024
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OIL & GAS

South Korea Explores Gas Investment Prospects In Nigeria

The Nigerian National Petroleum Company (NNPC) Limited, the state-owned oil firm, has met with a consortium of South Korean investors to explore investment prospects within Nigeria’s gas market.

According to Energy News Africa, the discussions are expected to enable the signing of a memorandum of understanding (MoU) which will pave the way for greenfield investments in Nigeria’s gas sector while driving various natural gas projects in the country.

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“The talks were aimed at deepening the drive of NNPC Ltd. to tap into the nation’s vast gas resources to be a supplier of clean and affordable energy to the global market,” NNPC said in a press statement.

The meeting, which took place in Seoul, included manufacturing and engineering conglomerate Daewoo.

It aligns with Nigeria’s efforts to attract foreign direct investments to expand its gas industry.

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