Nigeria breaks ground for NLNG Train 7 gas project
The long-expected $10 billion project is expected to add around 8 million tonnes a year of liquefied natural gas to NLNG, taking the total to around 30 million tonnes per year.
”I want to thank the foreign investors for the confidence reposed in Nigeria, and assure all Nigerians and potential investors in the Oil and Gas sector that the Federal Government will continue to create the enabling environment in order to develop the sector and bring the full benefits of Gas closer to our people,” he said.
President Buhari recounted that the story of Nigeria LNG was one he had been ”passionately associated with during the formative years of the project.”He said: ”As Minister of Petroleum Resources, I kicked off our first foray in LNG Business in 1978. At the time it was already apparent that Nigeria was mainly a gas-rich country with a little oil!
”It therefore gives me great joy to see the organization transform from just a project in the early 90s to a very successful company with over 20 years of responsible operations and steady supply of Liquefied Natural Gas, Liquefied Petroleum Gas and Natural Gas Liquids into the global market. headtopics.com
”This is proof that Nigeria has great capacity to deliver value to the world by harnessing our natural resources”.In his address, the Minister of State for Petroleum Resources, Timipre Sylva described NLNG as a ”blessing to the nation”, noting that it has positively complemented crude oil exploration by monetising flared gas and yielding huge revenue to the nation and investors.
Mr Sylva added that since NLNG became operational in 1999, the nation has recorded a drastic reduction in operational flare status from 65 per cent to 12 per cent.”I boldly say that the groundbreaking of Train 7 is a guarantee to every stakeholder of more dividends in terms of further reduction in gas flaring, more revenue to the nation and shareholders, more job opportunities especially at the construction phase and more social investments for the society, ” he said.
Mr Attah, the Managing Director and Chief Executive Officer of NLNG, said the project would stimulate inflow of about $10 billion FDI into Nigeria.ADVERTISEMENTHe said the project would also further the development of local capacity and businesses through the 100 per cent in-country execution of construction works, fabrications and major procurement.Read more: Premium Times »
Buhari flags off NLNG Train 7 projectCongratulations
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