Ogun, NNPCL move to revive Olokola LNG project
Ogun State and the Nigerian National Petroleum Company Limited (NNPC) have opened discussions on the revival of the long-delayed Olokola Liquefied Natural Gas (OKLNG) project in Ogun Waterside, adding a major energy component to the emerging $7 billion maritime and industrial development taking shape along the state’s coastline.
Receiving officials of NNPC in Abeokuta on Wednesday, Governor Dapo Abiodun said the renewed interest in the LNG project would further strengthen Ogun’s emergence as a major industrial and energy hub.
“Last Wednesday, we signed an MoU on the Deep Sea Port, and today we have the NNPC team here discussing the activation of the LNG plant,” Abiodun said.
The Governor said the proposed LNG facility, which had been on the drawing board for more than three decades, could provide a major energy base for industries within the emerging coastal economic corridor and contribute to meeting the energy needs of the wider South-West.
He described the revival of the project as particularly significant coming immediately after the agreement with DP World, noting that the port, marine economy, industrial zone and LNG project could collectively create an integrated ecosystem for energy, manufacturing, maritime trade and logistics.
According to Abiodun, discussions with NNPC focused on land acquisition, incentives and other requirements necessary to facilitate the take-off of the project, with the state government committing to provide the necessary cooperation and guarantees.
On the LNG project, NNPC Group Chief Financial Officer, Mr Adedapo Segun, said the company was undertaking a comprehensive review of the challenges that stalled the project in the past, with the objective of finding lasting solutions and resuscitating it.
Also speaking, NNPC Executive Vice President, Gas, Power and New Energy, Mr Lekan Ogunleye, disclosed that the company would require approximately 1,728 hectares for the LNG plants, utilities, storage facilities and associated infrastructure.
