President Muhammadu Buhari has charged that the Nigeria Liquefied Natural Gas, NLNG, Train 7 be delivered on time to pave way for the commencement of the Train 8 project.
The President gave the charge at the virtual groundbreaking ceremony of the project in Bonny Island, Rivers State,
He urged all stakeholders to continue to collaborate to ensure completion and eventual commissioning of the Train 7 project safely and on time.
The President said he look forward to the development and execution of more gas projects by the International Oil Companies, and indigenous operators, with more Trains from Nigeria LNG to harness the over 600 trillion cubic feet of proven gas reserves Nigeria was endowed with.
He thanked foreign investors for the confidence reposed in Nigeria, and assured Nigerians and potential investors in the Oil and Gas sector that the Federal Government would continue to create the enabling environment needed to develop the sector and bring the full benefits of Gas closer to our people.
President Buhari noted that ‘NLNG had generated $114 billion in revenues over the years, paid $9 billion in taxes, $18 billion in dividends to the Federal Government, and $15 billion in feed gas purchase.
The Minister of State for Petroleum Resources, Timipre Sylva, had described NLNG as a blessing to the nation, noting that it has positively complemented crude oil exploration by monetising flared gas and yielding huge revenue to the nation and investors.
Mr. Sylva said that since NLNG became operational in 1999, the nation had recorded a drastic reduction in operational flare status from 65 percent to 12 percent.
In his exploration, the Managing Director and Chief Executive Officer of NLNG, Anthony Attah, said the Train 7 would increase NLNG’s overall capacity to 30 million tonnes per annum from the current 22 million tonnes, adding immense value to the nation and the people.
He said the project would stimulate inflow of about 10 billion dollars FDI into Nigeria, create 12,000 direct jobs in Bonny Island and additional 40,000 indirect construction jobs.