The Nigeria Liquefied Natural Gas (NLNG) Limited says its ongoing plans to reach a Final Investment Decision (FID) on its Train-7 project by December 2018 would make Nigeria the 3rd World largest gas exporter.
The NLNG General Manager Production, Mr Tayo Ogini, stated this while making a presentation on the facility located at Bonny Island southern Nigeria.
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.
According to the NLNG General Manager Production, Nigeria is presently the fourth exporter of gas in the world.
Mr Ogini disclosed that plans to invest seven billion dollars on the Train-7 project would expand its production capacity to 30 mtpa making Nigeria the 3rd largest exporter of gas in the World after Qatar and Australia.
“The gas produced in Nigeria is world-class, the NLNG has built a reputation of reliability in its gas supplies around the world. The hub of crude oil exporters on the island namely: Shell SPDC, ExxonMobil and the NLNG can easily produce two million barrels of oil per day,” he stated.
Ogini said the country had 23 NLNG carriers which had sailed more than 4,000 cargoes making it the largest in Africa.
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.
He recalled that during the cash crunch of 2016, NLNG saved the day and helped to avert a shutdown of the nation’s economy.
He advised the NLNG to tackle the issue of gas pricing as most importers of domestic gas prefer to bring in shipments than to patronise the NLNG.