The Nigerian National Petroleum Corporation (NNPC) has said that Centrica, LNG Japan and Mittal Group are among companies angling to get on the Board of the Olokola Liquefied Natural Gas (OKLNG) project, to takeover the 14.25 per cent shares of BG group which has withdrawn from the project.
Explaining BG Group’s withdrawal from the OKLNG project, NNPC spokesman, Dr. Levi Ajuonuma, said it did not come as a surprise considering that BG has been engaging NNPC on disposing of their upstream assets in Nigeria.
“BG’s withdrawal is consistent with earlier engagements it had with NNPC and it will not in any way affect the project negatively as other shareholders will either exercise their right to take up the shares or allow any of the numerous investors angling to get on board to buy the shares,” he said.
He listed some of the companies willing to come on board the project to include Centrica, LNG Japan and Mittal Group.
He further informed that the Shell Global Solutions International (SGSI), a world leader in LNG technology, marketing and investment consultancy, has confirmed the OKLNG as a sound project capable of taking advantage of world LNG market opportunities in year 2018 if it proceeds rapidly to implementation stage now.
The SGSI, he said, gave the verdict after an indepth strategy review on how best to progress with the project to implementation, against the backdrop of the withdrawal of the smallest shareholder, the BG Group, while the NNPC is the major shareholder with 46.75 per cent shareholding and Shell and Chevron hold 19.5 per cent apiece.