Oil & Gas
THE Nigeria Liquefied Natural Gas, NLNG, says the company has reached another major milestone with the exportation of its 4,000th cargo of Liquefied Natural Gas, LNG, from its Bonny Island Terminal, Rivers State to Mamara LNG in Turkey. This is according to statement by Kudo Eresia-Eke, general manager, external relations, NLNG.
Eresia-Eke said that the cargo shipped on board one of NLNG’s chartered vessels, LNG Sokoto was sold to Botas Petroleum Pipeline Corporation and was estimated to arrive its destination by May 14. He recalled that NLNG exported its first cargo on Oct. 9, 1999, to Montoir LNG Terminal, France.
The spokesman said the company had since grown to what has been described as Africa’s largest single private sector industrial investment, safely and reliably supplying about seven per cent of total world LNG demand. “The Company has plans to expand its production capacity at its six-train plant complex, the fourth largest LNG plant in the world, from 22 million tonnes per annum (mtpa) to some 30 mtpa.
“These plans are expected to stimulate upstream gas development of the country’s vast gas resources. This attracts about 15 billion dollars of foreign direct investments in the upstream alone as well as another 10 billion dollars in the construction of the trains,” it stated.
The company’s Managing Director and Chief Executive Officer, Mr Tony Attah said he was excited about the milestone achievement by the company. “I am excited about this milestone which would not have been possible without the shared vision within our Company of helping to build a better Nigeria.
“Our core values of integrity, teamwork, respect, excellence and caring; the commitment of our staff; and the cooperation from government and shareholders as well as other stakeholders including our loyal customers. This milestone is coming at a crucial time. It symbolises many things. It signifies that NLNG remains a successful company. At 4000th cargo, we have shown the world that NLNG is a world-class company, safely and reliably delivering clean energy to its customers.
“Secondly, and most importantly for Nigeria, it shows that it is time for gas; it is time to encourage this success story. This is the time to unleash the country’s gas potentials through catalysts like Trains 7 and 8 to spur industrial and economic transformation. NLNG is a success that we need to sustain as an inspiration to the country. It has generated 90 billion dollars in revenues as well as paid 5.5 billion dollars in taxes.
“The Company has generated 13 billion dollars for the Federal Government through feed gas purchases and US$15 billion in dividends. While monetising the country’s gas resources, the company has contributed to the reduction in gas flaring from about 65 per cent before it commenced operations to less than 20 per cent today.
“NLNG has contributed significantly to the domestic LPG industry, supplying some 40 per cent of the cooking gas available to Nigerian homes and businesses. This intervention continues as part of strategies and initiatives aimed at deepening the availability and usage of cooking gas in the country,” he said.
News Agency of Nigeria, NAN, recalled that the same company in Turkey received the company’s historic 3,000 cargos in 2014. – NAN
— May 2, 2017 @ 15:50 GMT
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