The Nigeria Liquefied Natural Gas Limited (NLNG), says its ongoing plans to reach a Final Investment Decision on its Train-7 project by December will make Nigeria the third World largest gas exporter.
The Nigeria Liquefied Natural Gas (NLNG) General Manager Production, Mr. Tayo Ogini, stated this on Saturday while making a presentation on the facility situated at Bonny Island on Saturday.
The presentation was to acquaint the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who visited the plant to see the progress made on the project so far.
Based on the presentation, Nigeria is presently the fourth exporter of gas in the world.
The Nigeria Liquefied Natural Gas (NLNG) has six operational trains (gas plants).
The first train was built in 1989 however by 2007 till date, plans to build Trains 7 and eight have been shelved.
The six trains have a combined capacity to produce 22 metric tonnes every year (mtpa) of Liquefied Natural Gas (LNG).
Nevertheless, plans to invest seven billion dollars on the Train-7 project would increase its production capacity to 30 mtpa making Nigeria the third largest exporter of gas in the World after Qatar and Australia.
Mr. Tayo Ogini stated the gas produced in Nigeria was world-class, adding that the NLNG had built a reputation of reliability in its gas supplies world wide.
According to Ogini, the hub of crude oil exporters on the island specifically: Shell SPDC, ExxonMobil and the NLNG can easily produce two million barrels of oil per day.
Ogini stated the country had 23 NLNG carriers which had sailed more than 4,000 cargoes making it the biggest in Africa.
He, however, stated the companies were being confronted by inadequate infrastructure, adding that with the three-year Bonny-Boro road project which the company had embarked on, part of the problem would quickly be addressed.
Responding, Kachikwu commended the NLNG management for its efficiency, saying the company was a testament to the fact that things could be properly done in Nigeria.
Kachikwu recalled that throughout the cash crunch of 2016, NLNG saved the day and helped to avert a shutdown of the nation’s economy.
According to the minister of state, Dr. Ibe Kachikwu the Practice-7 venture is unbelievable however Nigeria will not be but the place it must be.