NLNG LTD TAKES STEP FOR FURTHER EXPANSION
The Nigerian Liquified Natural Gas Limited NLNG says it has set in motion the maturation of NLNG”s Train 8 and 9 following the final Investment decision on Train 7,on May 13,2020
The Managing Director and Chief Executive Officer of the company Tony Attah said that the company took the step because of the confidence and support it enjoyed from the Federal Government and other shareholders.
Shareholders are FG,Shell,Total and ENI
Attah adressing a webinar sponsored by organisers of oil and gas conference revealed that NLNG has delivered more than 4800 cargoes to the world through ithe company’s 2 subsidiaries,Bay Gas Warrant and NLSM the shipping arm
He expressed optimism that Train 7 will bring a lot of fortune to the company,shareholders and the environment it operates.as it will boost NLNG’LTD production by %35 to 30million metric tonnes from 22.5million metric tonnes.per annum
According to him the NLNG has reduced 65 percent of gas flaring in the country and also offering monetization for the government.
Attah claimed that the company is not only viable but responsible in terms of support for society.
In line with this, the company is partnering with the federal government and state to fight covid-19 and has contributed over 4million dollars to the course in addition to a 4 point agenda it set for Health, Education,lnfrastructure and Youth development.
He further revealed that the NLNG partnered with the federal government in the Bonny-Bodo road designed to link Bonny to Port Harcourt which is being constructed at the cost of 700million dollars and it has paid its share of 50percent.adding that the project has reached 40percent completion.
On the future of NLNG, The Managing Director said that the company is properly position to weather the dynamics if markets as it has already laid the foundation for more expansion in the next 30years
He said that it took 45years for NLNG to get Train 7 going because of inaction towards attracting funding for expansions pointing out that the company has paid back loan it took last week with balance sheet of over eleven billion dollars.
Niger Delta, The Giant That Feeds Nigeria’s Cries for justice.-Boma Nwuke
Crude oil production began in the Niger Delta about 5 decades ago.
Nigeria earns the title of the largest producer of oil in Africa with daily production capacity standing at 2.5million
Along with crude oil is the large liquified natural gas deposits raking in billions of dollars as revenue for the country.
Oil was discovered in commercial quantities in Oloibiri (Bayelsa)in 1956)by Shell BP. Regrettably there is no significant development for communities making the
huge sacrifice of feeding the nation and bearing the brunt of pollution and destruction of their ecosystem.
Development of the Niger Delta has been a subject of politics by Nigerian government and other stakeholders extracting oil from the region.
Agitation for resource control and better Life for the region birthed the Niger Delta Development Commission by the Obasanjo government in 2000 with mandate to develop the region.
On September 8, 2008, the Yar Adua government created the ministry of Niger Delta to promote, and coordinate the development,peace and security of the region.
Sadly, only little fixtures of development are visible in Niger Deltal due to government regulations, interference and corruption.
The Niger Delta still has a face of wreck with it’s farmlands and creeks polluted by oil activities.In addition to this is surging unemployment,Hunger and near absence of roads .
The East West road which could ease transportation problems is far from being completed and oil and gas majors in the region are also not doing enough in their social responsibility obligation for host communities. Even where they try to satisfy an obligation, they leave traces of rancour among communities in their operational bases.
Part of companies social Responsibility obligation is giving job opportunities to host communities..
The Nigeria Liquified Natural gas(NLNG)Limited, is a corporate organization created to help develop host communities in addition to harnessing the gas resources of the nation.
With a total production capacity of 22million tonnes a year, the company sets to add another feather to it’s cap-the birth of the 7th production train.
As sweet as the NLNG’s success story might be to the company,it however does not translate to good omen for the host community Bonny who alleged plan by the company to relocate jobs meant for the betterment of the area to Lagos for reasons as flimsy as lack of skiiled personnel.
The company is reported to nurse the ambition to either relocate fabrication components of the train 7 processing plant or have concluded plans to take it to Lagos.
Those are jobs that could lower poverty,crime and trigger growth acceleration in the Niger Delta.
The development of NLNG’s host communities should not be treated with levity by the NNPC which acts on behalf of the federal government and oil giants who have shares in the company.
Statistics give distribution of shares below
Federal Government-49%,Shell 25.6% Total 15% and Eni 10.4%
In comparison to the gains made by companies and NNPC, with development dangled around host communities,it is extremely difficult to award passmark to the frontline players and the management of the NLNG Limited.
The Niger Delta has to be peaceful to continue it’s laying of the golden eggs.
Chief Edwin Clark ,an elder statesman and a leader of the region had restated the call for priotising the Niger Delta in infrastructure development and key appointments
In a letter to the President on democracy day, the elder statesman pointed at the obvious neglect of the region and called on the government to act.
The problems of the Niger Delta are multifacetedranging from Environmental degradation, unemployment, not having effective quota representation of Niger Deltans in Top government Ministries and parastals to lack of infrastructure development unfortunately that is the bane
of frustration, distress and despair in the region.
What the Niger Delta gives out is too much for the magnitude of deprivation it receives.