Ogun State and the Nigerian National Petroleum Company Limited (NNPCL) have opened discussions on the revival of the long-delayed Olokola Liquefied Natural Gas (OKLNG) project in Ogun Waterside, adding a major energy component to the emerging $7 billion maritime and industrial development taking shape along the state’s coastline.

The development comes barely a week after the Ogun State Government signed a Memorandum of Understanding (MoU) with global ports and logistics operator, DP World, for the development of the Gateway Deep Sea Port and the 10,000-hectare Ogun Blue Marine Special Economic Zone.

Governor Dapo Abiodun, who received NNPC officials in Abeokuta yesterday, said the renewed interest in the LNG project would further strengthen Ogun State’s emergence as a major industrial and energy hub.

The governor said that the proposed LNG facility, which had been on the drawing board for more than three decades, could provide a major energy base for industries within the emerging coastal economic corridor and contribute to meeting the energy needs of the wider South-West.

He described the revival of the project as particularly significant coming immediately after the agreement with DP World, noting that the port, marine economy, industrial zone and LNG project could collectively create an integrated ecosystem for energy, manufacturing, maritime trade and logistics.

Abiodun said the project could generate substantial employment and multiplier effects, citing the NNPC facility in Bonny, Rivers State, where he said about 14,000 people are employed.

He added that the Ogun facility could supply gas to industries within the economic zone, as well as businesses and communities across Ogun and the wider South-West.

The governor said DP World’s global experience in developing ports and integrated economic zones would be important to the realisation of the coastal development, noting that the company operates major port and economic-zone facilities around the world.

On the LNG project, NNPCL Group Chief Financial Officer, Adedapo Segun, said the company was undertaking a comprehensive review of the challenges that stalled the project in the past, to find lasting solutions and resuscitate it.

Also speaking, NNPCL Executive Vice President, Gas, Power and New Energy, Lekan Ogunleye, disclosed that the company would require approximately 1,728 hectares for the LNG plants, utilities, storage facilities and associated infrastructure.

He said the project would also require about 2.5 kilometres of dedicated Atlantic frontage to support marine traffic and safety requirements for up to three LNG jetties.