Nigeria's gas industry received a major boost this week, as Temile Development Company Ltd (TDC) sealed a $250 million contract with Hyundai Heavy Industries for the construction of an 88,000-cubic-metre Very Large Gas Carrier (VLGC).
The contract, signed in London on Wednesday, was accompanied by a construction supervision agreement with NLNG Shipping & Marine Limited (NSML), further cementing TDC's commitment to expanding Nigeria's gas value chain. This latest investment brings TDC's total financial stake in the sector to over $450 million in the past four years.
Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, hailed the deal as a key milestone in advancing Nigeria's Decade of Gas agenda—an initiative launched in 2021 to transition Nigeria into a gas-powered economy by 2030.
"This project will bring Temile's total investment to over $450 million. It's a significant and strategic financial commitment, reinforcing local participation in a sector that's critical to our national economic diversification agenda," Ekpo said.
He added that the Federal Government remains committed to supporting such investments through incentives and infrastructure, as part of President Tinubu's Renewed Hope Agenda.
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Ekpo emphasized that beyond infrastructure, the project reflects confidence in Nigeria's gas potential and the capacity of indigenous companies to drive transformational change in the energy space.
According to the minister, the investment will contribute to economic development, support poverty alleviation, and enhance Nigeria's position in the global energy transition.
He also encouraged other stakeholders in the oil and gas sector to prioritize collaboration, innovation, and local content development to accelerate growth.
TDC's Chief Executive Officer, Alfred Temile, described the agreement as a reaffirmation of the company's strategic role in the national gas agenda.
"We remain highly committed to making critical investments and working closely with key sector stakeholders to advance the goals of the Decade of Gas initiative," Temile stated.
He extended appreciation to the Minister and all parties involved in making the deal a reality.
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