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The Managing Director (MD) of NLNG Mr. Chris Haynes disclosed this recently while presenting a paper on the Value of the NLNG and its Train 7 project, at the instance of the Minister of Energy (Gas) Mr. Emmanuel Odusina at Transcorp Hilton, Abuja.
According to Haynes, the NLNG T7 project is expected to ensure synergy with the existing installations in Bonny for optimal value extraction from the real estate and is planned for a capacity of 8.5 metric tons per annum (Mtpa) of LNG and 2.1 Mtpa of Natural Gas Liquids (NGLs)
To the Nigerian government, the T7, which would be funded from the NLNG’s retained earnings would “add some $1billion per annum to government revenues at modest LNG prices,” the NLNG MD stated.
The NLNG MD said that the new T7 project would further grow monetization of Nigerian gas resources with the benefit of an extension project whilst also being an enabler in the developing domestic gas supplies.
Speaking further, Mr. Haynes said that the T7 project would boost Nigerian Content by providing 10,000 jobs for workers, consultancies, suppliers, contractors and even financial institutions.
To the host community, Bonny Island, Haynes also revealed that the T7 project when successfully implementation, would develop Bonny River into a Port. The new train, he added, would also “lead to the availability of Liquefied Petroleum Gas (LPG) otherwise called cooking gas at affordable price for local use.”
Earlier in his opening address, the Chairman of the NLNG board, Dr LongJohn admitted that hitherto, the company has lived up to its expectations in promoting the Nigerian Content with in-country capacity utilization and sustainable relationships with its host communities including communities traversed by its gas supply pipelines.
Dr LongJohn who said that the project was on the verge of making industry history of developing the largest capacity LNG train in the world, anticipated that it would improve the revenue earnings of NNPC being the major shareholder in the business.
The meeting also had in attendance the Minister of National Planning, Senator Sanusi Daggash and a representative of the Minister of Housing and Urban Development, on the Federal government team.
On the NNPC team was the representative of the Group Managing Director (GMD) and Group Executive Director (GED) Corporate Services, Alhaji Ibrahim Waziri, the Group General Manager (GGM) LNG & Power, Mrs Amakiri, and the General Manager, LNG, Mr. Mohammed Buhari.
NLNG is presently on Train 6 with 12 billion USD investments. It currently produces 22Mtpa of LNG capacity and 5Mtpa of NGLs capacity. The company has 11 buyers the world over; 24 dedicated ships and 150,000Mtpa of Domestic LPG.
The Nigerian National Petroleum Corporation (NNPC) is a major player
in NLNG with 49% shares, closely followed by Shell Gas with 25.6%. Total
and Eni International have 15% and 10.4% shares respectively.