Temile Development Co, have closed a construction and supervision deal with Hyundai Mipo Dockyard (HMD) and the Nigerian Shipping Management Limited (NSML) of a second 23,000 cubic meters LPG/NH3/VCM carrier vessel.
The dual contract signing ceremony took place at the World Gas Conference (WGC 2022) in Daegu, South Korea.
The contract involves Hyundai Mipo Dockyard (HMD) for the construction of the vessel, and the Nigerian Shipping Management Limited (NSML), the shipping arm of the Nigerian Liquified Natural Gas (LNG) Limited, for the supervision.
According to a statement issued by Temile Development Co, Chief Executive Officer (CEO), Alfred Temile, the new carrier vessel to be constructed is a high-end specification vessel, which has been designed by NSML in accordance with bespoke requirements using HMD’s highly efficient eco-design.
The CEO said the development demonstrates the company’s commitment and support to the Nigerian Local Content Act and establishes their confidence in local capacity to deliver international acceptable standards adding that the new LPG carrier was expected for delivery on July 26, 2026 at HMD in Ulsan, Korea.
“We are delighted to execute the construction of our new LPG carrier with HMD, bringing onboard NSML to supervise the construction. As an indigenous company, this demonstrates our commitment and support to the Nigerian Local Content Act and as well as establish our confidence in local capacity to deliver international acceptable standards.
“Working with HMD again makes us feel in very safe hands as we are confident that this eco-design/cleaner fuel vessel shall be constructed in line with international best practices and industrial regulations thereby creating a space for the vessel in the international gas supply value chain.
“Having taken delivery of our first LPG carrier vessel, which is currently chartered to Nigerian LNG Limited for domestic LPG supply, we look forward to taking delivery of this new carrier in July 2023 to make an addition to the global gas supply industry,”
Temile, stated that the firm’s investment in Nigeria’s oil and gas industry is as a result of the enactment and application of the Nigerian Content Act and the Petroleum Industry Act (PIA).
Executive Secretary of Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, while congratulating Temile Development Company also applauded the firm’s initiative in investing in an area that was regarded as off-limits for local players.
He added that the contract aligns with the Board’s strategic plan of maximising the potentials in the midstream and downstream sectors of the Nigerian oil and gas industry.
“this project clearly supports our LPG penetration initiative in Nigeria and will further close the gap in LPG penetration in Nigeria.”
Wabote further said the project will bring invaluable local content opportunities in technology and innovation, human capital development and research and development.
He also applauded NLNG for the strategic initiative of deploying 100 percent LPG to the local market to close the gap in respect of LPG penetration in-country, adding the company has helped in reducing cost as well as creating a cleaner source of energy for our people.
He stated further that the project will bring invaluable local content opportunities in technology and innovation, human capital development and research and development.
He also commended Hyundai Brass Shipyard and other investment projects in Nigeria that will support the repair of vessels.