NNPC targets AKK pipeline, deepwater assets to drive gas monetisation

The Nigerian National Petroleum Company Limited has identified the AKK pipeline and deepwater assets as central to Nigeria’s gas monetisation drive, as it pushes a strategy anchored on infrastructure, partnerships and disciplined execution.

The Group Chief Executive Officer, Bashir Bayo Ojulari, disclosed this while speaking at CERAWeek 2026 in Houston, where he outlined the country’s approach to unlocking its vast gas reserves.

Addressing global energy leaders, Ojulari emphasised that Nigeria’s strategy is rooted in pragmatism and value creation. “Capital goes where value is clear, and Nigeria has that value,” he said.

He added that the company is focused on balancing immediate energy demands with long-term transition goals, noting, “We are not choosing between today and tomorrow; we are funding the future with the present.”

According to him, with over 600 trillion cubic feet of proven gas reserves, Nigeria is positioning gas not just as a transition fuel but as a key driver of industrialisation and energy security.

Ojulari further assured investors of Nigeria’s readiness, stating, “Nigeria is the reliable destination for energy investment the world needs. The country has positioned itself as a dependable supplier, riding on the established legacies of stable policies, improved energy infrastructure security, partnerships, and, lastly, the orientation of the government.”

He credited the current administration for granting NNPC operational autonomy to drive sustainable commercial outcomes.

Highlighting the role of global partnerships, the NNPC boss noted that collaboration with major players such as Shell and Eni is critical to unlocking deepwater assets, including OPL 245, due to their technical expertise and financial capacity.

He also pointed to the Petroleum Industry Act as a key enabler of regulatory certainty, alongside ongoing investments in infrastructure and improved security architecture.

On gas development, Ojulari identified three priority areas—commercial pricing, critical infrastructure such as the AKK (Ajaokuta-Kaduna-Kano) pipeline, and bankable contracts—as essential to attracting investment and ensuring sustainability.

“Balance is not about equal allocation; it is about optimal sequencing,” he said, stressing the need to deploy oil revenues to sustain current value, while gas drives industrial growth and transition investments are carefully targeted.

CERAWeek 2026, hosted by S&P Global, is holding from March 23 to 27, bringing together thousands of industry leaders to discuss the intersection of energy, technology and geopolitics.