Over 90 per cent of the Liquefied Petroleum Gas, also known as cooking gas, produced in the country is being exported, a subsidiary of the Nigerian National Petroleum Corporation, NNPC Retail Limited, has said.
The Managing Director, NNPC Retail, Sir Billy Okoye, who said this on Tuesday, added that a chunk of the cooking gas consumed in the country was being imported.
Okoye said these in a presentation through the company’s Manager in charge of LPG and aviation fuel, Mr John Chiejina, at the Nigeria LPG Summit organised by the Nigeria LPG Association and Singapore’s LPG Summit.
He said the size of the Nigerian domestic LPG market was 635,452.061 metric tonnes by the end of December 2018.
Okoye said, “It is expected to reach a milestone of 1,000,000MT by December 2019, according to data from the PPPRA.
“In-country production is about 5,000,000MT per annum with over 90 per cent of that volume exported while 10 per cent is consumed locally.”
He noted that the Nigeria LNG Limited contributed about 350,000MT to domestic supply in 2018.
According to Okoye, other key contributors are the Port Harcourt and Warri refineries as well as other offshore/onshore producers such as ExxonMobil, Pan Ocean, Global Gas and Xenergi Oil & Gas.
He said, “A significant portion of locally consumed LPG is also imported with numbers around 319,000 MTPA (55 per cent of total consumption) for 2017.”