Saturday, September 19, 2020

GACN holds workshop to review gas agreement template

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Nigeria’s strategic aggregator, Gas Aggregation Company Nigeria Limited, GACN, yesterday announced plans to facilitate a parliament among industry stakeholders on the Gas Master Sales and Aggregation Agreements, GSAA, which are being adopted in connection with the sale. of natural gas in Nigeria’s domestic gas. market.

In a statement in Abuja, the GACN said that the parliament aimed to improve and accelerate the process of negotiating gas sales agreements in Nigeria’s domestic gas market.

GACN explained that its decision to host the workshop, scheduled for September 16 and 17, 2020, was in recognition of the increasingly dynamic nature of Nigeria’s domestic gas market and a demonstration of its commitment to updating the master GSAAs to reflect current market realities. and ensuring an equitable distribution of risk between the parties to said agreements.

The aggregator noted that the workshop, to be facilitated by a leading commercial law firm, Banwo & Ighodalo, would create a collaborative platform for stakeholders from Nigeria’s national gas industry to have in-depth discussions on challenges and shortcomings. of the national gas market. and the existing Gas Master Agreements, as well as offering solutions to the identified challenges.

GACN also expressed optimism that the workshop would contribute significantly to the ongoing efforts of the Federal Government of Nigeria to promote and deepen gas utilization and increase domestic gas consumption for the purpose of improving power generation and accelerating industrialization. from Nigeria.

It stated: “Despite the challenges presented in this year 2020, the Federal Government of Nigeria under the leadership of President Muhammadu Buhari, continues to make significant progress in the oil and gas sector. Under the able leadership of the Honorable Minister of State for Petroleum Resources, Chief Timipre Sylva and NNPC Group Managing Director Mallam Mele Kolo Kyari, the Ajaokuta-Kaduna-Kano, AKK projects are constantly advancing.

“The Petroleum Industry Governance Bill, PIGB, was passed to the National Assembly for finalization, the Network Code for gas transportation was put into operation and a gas penetration initiative was launched that changes the game to convert gasoline vehicles into gas backed by liquefied natural gas, LNG and compressed natural gas, CNG.

“Therefore, the above presents a conducive backdrop for vital gas sector stakeholders key in the government’s vision considering the declaration of 2020 as the Year of Gas by Chief Timipre Sylva and Mallam Mele Kolo Kyari “.

Guest speakers at the workshop, according to the GACN, included Hadiza Coomassie, Corporate Secretary / Legal Advisor to the Nigerian National Petroleum Corporation (NNPC); Ing. Mansur Sambo, President of GACN and Managing Director of Nigerian Petroleum Development Company Limited (NPDC); and Mr. Olalekan Ogunleye, Managing Director / CEO of GACN.

Others are Mr. Ken Etim, Managing Partner of Banwo & Ighodalo; Yemi Famori, Gas Portfolio Manager of Shell Petroleum Development Company of Nigeria Limited and Mr. Manish Mundra, Managing Director of Indorama Eleme Petrochemical Limited.

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