…taps NSML for oversight
Temile Development Company Ltd, a midstream Nigerian-owned company primarily facilitating gas transportation and logistics, has signed a $250 million contract with Hyundai Heavy Industries for the construction of a Very Large Gas Carrier (VLGC).
This comes alongside a Letter of Intent with NLNG Shipping and Marine Services Limited (NSML) for the vessel’s construction supervision, a move expected to improve Nigeria’s global gas transportation
The agreements were formalised recently at the Dorchester Hotel in Park Lane, London, during a signing ceremony attended by key players in the gas and maritime sectors.
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The vessel, with a capacity of 88,000 cubic metres, will be built at Hyundai’s shipyard in South Korea.
While the operational specifics of the vessel were not disclosed, it is expected to help Nigeria’s expanding natural gas logistics, amid plans to increase exports and support domestic utilisation.
NSML is scheduled to begin supervision in February 2027, with delivery expected in January 2028.
Abdulkadir Ahmed, NSML’s managing director and chief executive officer, described the deal as a collaboration between both companies, following the successful supervision of the LPG Alfred Temile 10.
He said the renewed partnership shows growing confidence in Nigeria’s capacity to contribute to global maritime operations through technical excellence and strong project management.
Temile’s new investment, according to Ekperikpe Ekpo, Nigeria’s minister of state for petroleum resources (Gas), will help Nigeria achieve its “Decade of Gas” initiative, which was launched in 2021 to harness Nigeria’s abundant gas resources for economic transformation and energy transition.
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“This project will bring Temile’s total investment to date in the gas value chain to over $450 million in the last four years,” the minister said.
“It is a significant and strategic financial commitment, reinforcing local participation in a sector critical to our national economic diversification agenda.”
Nigeria’s gas export sector has grown in recent years.
In 2024, gas exports rose by 48.3 percent to $8.66 billion, contributing to a balance of payments surplus of $6.83 billion, according, to recent trade data. Liquefied natural gas (LNG) exports accounted for about 8.8 percent of Nigeria’s total exports in the first quarter of 2024.
Additionally, Portugal increased its LNG imports from Nigeria, sourcing 51 percent of its LNG supply from the country in 2024.
