NTPC inks deal with Nigeria for LNG import

New Delhi, May 25: State-run power firm NTPC Ltd has signed a memorandum of understanding (MoU) with Nigeria to buy up to three million tonnes of liquefied natural gas (LNG) per year on a long-term basis.

The agreement was signed between NTPC Director (Tech) R K Jain and Energy Minister of Federal Government of Nigeria (FGN) Edmund M Daukoru on tuesday, a statement said.

According to the agreement, NTPC will set up and operate a 500 MW coal-based power plant and a 700 MW gas-based power plant in Nigeria subject to techno-economic feasibility. These ventures would either be wholly owned by NTPC or be in joint venture with Nigerian Government agencies or third parties, the statement added.

NTPC will also help FGN in rehabilitation, renovation and modernisation of other power stations of FGN, provide training to power plant professionals of Nigeria and assist Nigeria in developing and upgrading existing training infrastructure facilities.

UNI