Barely a few weeks after signing the Front-End Engineering Design (FEED) contract of Train 7 of the Nigeria Liquefied Natural Gas Ltd (NLNG) in London, managing director/chief executive officer of the NLNG, Mr Tony Attah, said the planned project would bring about a 35 per cent growth in Nigeria’s LNG output.
He added that the Train 7 holds immense potentials for the country, stressing that it creates 8,000 jobs, builds capacity for small scale LNGs and increases domestic LPG supply to about 0.5 million tonnes per annum.
This is even as minister of state for Petroleum Resources, Mr Ibe Kachikwu, last weekend, allayed concerns that the forthcoming elections would derail the Train 7 project of the NLNG, explaining that the Federal Government would provide the much-needed support to ensure the company, which had always remained insulated from politics, achieves its goal.
Kachikwu, who spoke during a visit to the NLNG plant complex in Bonny Island, advised the management of NLNG to avoid complacency, get out of its comfort zone and make investments, or mobilise resources and investors for the successful take-off of the Brass LNG and OKLNG projects.
The minister stated that revival of the two LNG projects would help create about 5,000 jobs in peak periods and almost 3,000 jobs in normal periods.
He said, “The NLNG has been fantastic in terms of its comfort zone. You probably can give them a 100 per cent in terms of their own performance. But I am saying that the world is bigger than this island. We have opportunities that are stranded everywhere — Brass LNG, in terms of shareholding, financing; OKLNG, in terms of getting off the ground.
“I would like to see NLNG get out of its comfort zone over the next 30 years. Apart from Train 8 and nimble investments in smaller fields, how about Brass LNG and OK LNG? Why must you not be the parents of those types of investments? Even if it is just to harness the potential investors because of the clout and respect you have in the international financial community.
“I would like to see you hand-hold some of those projects, even if it is little investments you have as a collective. You need to go from the whole, to a smaller collective and to drive the process.”
Kachikwu further stated that the Federal Government would be reaching out to the NLNG, not seeking to compel it, but enter into collaboration with it to see what could be done and how government can learn from what they have done well to drive the process of revival and completion of the two LNG projects.
He said, “I am saying that as the grandfather of this business, the NLNG has built six trains, looking at seven; hopefully, potentially more, let us begin to look at where, through minimal investments, through structures and designs, reconfigurations and expert advice, you can actually hand-hold some of those trains that are beginning to lag behind, so that the whole founding fathers’ concept of taking this all over the place happens.”
The minister added that the Federal Government is going to set up an inter-ministerial task team to engage with the NLNG on ways to increase consumption and drag down the price of Liquefied Petroleum Gas (LPG), also known as cooking gas, ensuring that locally-produced LPG is cheaper than its imported counterpart.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from LEADERSHIP Nigeria Newspapers. Contact: email@example.com
- COVER STORIES5 hours ago
INEC Rolls Out Voting Pattern For 2019 Polls
- NEWS5 hours ago
Alleged Fraud: Court Orders Service On Oshiomhole, EFCC
- AGRICULTURE18 hours ago
FG, Ban Maize Importation- Farmers
- NEWS21 hours ago
Bauchi: APC Wins Toro Federal Constituency By-election
- NEWS19 hours ago
Fire Destroys 77 Shops In Kano Market
- CRIME4 hours ago
Gunmen Kidnap 45, Kill One In Zamfara
- SPORTS18 hours ago
Gov Okowa Receives Super Eagles On First Int’l Flight To Asaba
- NEWS4 hours ago
Kwara PDP Rejects Rep By-election Results