NLNG urges massive investment in LNG as Nigeria’s ranking drops to 5th globally

THE Nigerian LNG Limited has called for massive investment in LNG as Nigeria’s ranking dropped from fourth to fifth globally. As at 2018, Nigeria was ranked as the fourth leading exporter of LNG in the world with 22 million tonnes, after Qatar, Australia and Malaysia, that produced 77 million tonnes, 44.3 million tonnes and 24 million tonnes yearly respectively. Nevertheless, other nations have pushed forward because of increased investments, resulting in Nigeria’s ranking dropping by one.

Speaking at the ongoing Nigerian International Petroleum Summit, NIPS in Abuja, the Managing Director/CEO, NLNG Limited, Mr. Tony Attah, said: “ln the past 20 years, Nigeria LNG has resiliently maintained top rating as a significant player and the 5th major supplier of global LNG with the export of over 4500 LNG cargoes delivered safely worldwide and still counting.

“The addition of Train 7 to our current six-train plant will add another eight million metric tonnes of LNG to the current sustained 22 milion metric tonnes production capacity of our plant. That will keep Nigeria prominently on the list of the top 7 suppliers of global LNG. This is an enviable position for an African country to achieve in the face of our evolving technological advancement, which is managed by highly skilled Nigerian professionals of varying competencies.

“The very quick wins from Train 7 project for Nigeria is the creation of jobs for our teaming youths, netting up to 12,000 direct iobs at the construction phase as well as the associated skills acquisition through a deliberate effort at technology transfer.”

Attah, who was represented by Mr. Adeleye Falade, General Manager, Production, said: “Riding on the back of a robust Nigerian Content plan endorsed by the Nigerian Content Development Monitoring Board (NCDMB), 55 per cent of the engineering activities for Train 7 will be carried out in-country and Nigerian vendors will undertake 55 per cent of all procurement for execution of the project. 100 per cent of the installations and construction will happen in Nigeria and the entire project will attract huge Foreign Direct Investment to the Nigerian economy. Other benefits include the emergence of upstream and other associated projects that will bolster our economy.

“There is no doubt that we can all build synergies that should propel NLNG to sustain its winning streak and support the emergence of new LNG suppliers in the country and the continent at large.”

Our motivation to build and operate Train 7 is heightened by the proven success recorded by Nigeria LNG in the past 20 years of operation. In its current state, the company has significantly reduced the environmental hazards arising from gas flaring.

“To date, the company has converted about 191.5bcm (billion standard cubic metres) or 6.8ch (trillion cubic feet) of Associated Gas (AG) to Liquefied Natural Gas (LNG) and Natural Gas Liquids (NGLs), thus reducing gas flaring by Upstream Companies from over 60 percent when it commenced operations to less than 20 percent currently.”

He added: “For a Nigerian company managed by 100 per cent Nigerian Management team and 95 per cent indigenous workforce, it is a daunting feat to be reputed as the first worldwide in plant reliability and the single most expansive LNG plant on the continent. We can sustain this and do much more.”

 

Source: Vanguard

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