NLNG: Nigerian success story in managemeant, technical competence, says Minister

Bonny (Rivers), March 8, 2017 (TNE): Minister of Information and Culture Lai Mohammed has described the Nigeria Liquefied Natural Gas (NLNG) Ltd., as a shinning example of a success story in management and technical competence.

The Minister stated this on Bonny Island in Rivers on Tuesday after a facility tour of the plant of the NLNG, a company that is being managed 100 per cent by Nigerians and whose staff strength comprises 95 percent Nigerians.

“Until I came here, I did not know that Nigeria has a humongous asset as the NLNG.
”I have been reading about NLNG, but coming here and having a first-hand experience and information, the briefing and the tour of the place have actually changed my mind completely about the NLNG.

“I am inspired, excited and proud to be a Nigerian. This probably is the best success story of this country and my pride largely derives from the fact that this company is run by Nigerians.

”The management entirely represents Nigeria and when you look at the complexity of the operation, I’m also very proud that this is coming from Nigeria,” the minister said.

Alhaji Mohammed observed that the NLNG was the incubator for the growth of the nation’s oil and gas industry, and if adequately encouraged, could replicate in Nigeria the kind of transformation that
Qatar did with its gas reserves.

The minister urged the media to continue to project the NLNG positively to ensure that the vision of the company is realised.

In his remarks, the Managing Director of the NLNG, Mr. Tony Attah, said time had come for Nigeria to unleash its gas potential and power the economy, especially as the country has the ninth largest gas

reservoir in the world with a proven 187 trillion cubic feet.

Mr. Attah said in order to realise the dream, the NLNG was embarking on the ambitious project for the construction of Trains 7 and 8, which will attract 25 billion dollars of Foreign Direct Investment and the creation of 18,000 jobs in the construction phase alone.

“It’s time for gas and it’s time for Nigeria and we believe this is possible. We see that opportunity from Trains 7 and 8 unleashing the gas potential.

”We see deliberate opportunities of the country going after the 600TcF of gas (reserve). In building Trains 7 and 8, potential investment that will be coming is about $25 billion,” he said.

Mr. Attah said the country, through the NLNG, had succeeded in reducing gas flaring from 65 percent  to 20 percent, while it would continue to diversify the energy resources and monetise gas in the country.

According to Mr. Attah, the NLNG has so far paid 5.5 billion dollars in taxes and 15 billion dollars in dividends to the Federal Government and has spent $13 billion dollars on the purchase of gas to process into liquefied form.(TNE)

%d bloggers like this: