NLNG is best destination for investment, NNPC GMD says in USA; Look beyond Train 7, NLNG MD tells shareholders

By Edith Ike-Eboh

Abuja, Sept.19, 2019

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, has said that “Nigeria is more of a gas nation than oil and for us, gas is the future. We have, therefore, committed to providing the necessary support required to ensure Nigeria takes its rightful place in the international gas market.”

Malam Kyari, who disclosed this while speaking at a Gas and Power Breakfast Briefing on the sidelines of the ongoing Gas Technology Exhibition and Conference (GASTECH) in Houston, U.S on Thursday, stressed that “there are a lot of opportunities within Nigeria’s LNG value-chain. I would like to assure you that the NLNG is the best destination for investment.”

Kyari, in a statement by Mr. Ndu Ughamadu, the spokesman for the Corporation, described the NLNG as a very critical company for Nigeria and appealed to prospective investors to consider investing in the organization for the benefit of shareholders and the entire Nigerians.

Kyari was represented at the conference by the Managing Director of the Nigerian Gas Company (NGC), Dr Salihu Jamari.

He said further that NNPC was working tirelessly to ensure that Nigeria’s abundant gas resources were utilized.

He stated that this was to fulfill government’s power aspirations by developing the gas infrastructure across the entire gas value chain and opening up the domestic gas market.

According to him, Nigeria’s approach in terms of implementing the energy mix is participatory, which in the long run, will make energy available to the citizenry.

In his remarks, the Managing Director of the NLNG, Mr Tony Attah, shared his company’s story which he said had over the last three decades helped to make Nigeria better.

Attah observed that for the country to stay competitive in terms of cost in the global LNG market, there was the need for NLNG’s shareholders to think beyond NLNG Train 7.

He said the company was on track to attaining the Final Investment Decision (FID) on Train 7, which would see its production rise from 22mtpa to 30mtpa.

“In the next month or so, we should be able to conclude on the FID for Train 7,” Attah assured investors at the Conference.

Meanwhile,  the Alternate Chairman of the Board of the NNPC, Dr Thomas John, has called on shareholders of the NLNG to maximize Nigeria’s abundant gas resources and generate more revenue for the nation.

John, in a statement by Mr Ughamadu, tasked the shareholders while speaking on the sidelines of the ongoing GASTECH in Houston, U.S.

“It is our hope that all the partners in the project will continue to carry the NLNG flag higher and ensure that the nation’s gas is put to good use to meet the expectations of all partners and increase the fortunes of the country,’’ he said.

He expressed delight that 30 years after the NLNG was incorporated, the project was growing fast while successive managements had been able to realise the dreams of its founding fathers.

NLNG is owned by four Shareholders, namely, the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation (49%), Shell Gas B.V.  (25.6%), Total Gaz Electricite Holdings France (15%), and Eni International  (10.4%).