Fidelity bank banner Bayelsa State banner
Nigeria LNG exports landmark 4,000th cargo

By News Express on 01/05/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,037

•Nigeria LNG vessel.
•Nigeria LNG vessel.

Nigeria LNG Limited (NLNG) today, Momday, May 1, 2017, reached another major milestone with the exportation of its 4,000th cargo of Liquefied Natural Gas (LNG) from its Bonny Island Terminal in Rivers State to Mamara LNG Terminal in Turkey, which also received the Company’s historic 3,000th cargo, three years ago.

The cargo shipped on board one of NLNG’s chartered vessels, LNG Sokoto, is sold to Botas Petroleum Pipeline Corporation, and is estimated to arrive its destination by May 14.

A statement issued by the General Manager, External Relations, Dr Kudo Eresia-Eke, recalled that NLNG exported its first cargo on October  9, 1999, to Montoir LNG Terminal, France, and has since grown to what has been described as Africa’s largest single private sector industrial investment, safely and reliably supplying about seven percent of total world LNG demand.

The company has plans to expand its production capacity at its six-train plant complex, the fourth largest LNG plant in the world, from 22 million tonnes per annum (mtpa) to some 30 mtpa. These plans are expected to stimulate upstream gas development of the country’s vast gas resources and attract about US$15 billion of foreign direct investments in the upstream alone as well as another US$10 billion in the construction of the trains.

Speaking on the company’s achievement, its Managing Director and Chief Executive, Tony Attah, said: “I am excited about this milestone which would not have been possible without the shared vision within our company of helping to build a better Nigeria; our core values of Integrity, Teamwork, Respect, Excellence and Caring; the commitment of our staff; and the cooperation from Government and Shareholders as well as other stakeholders including our loyal customers.

“This milestone is coming at a crucial time. It symbolises many things. It signifies that NLNG remains a successful company. At 4,000th cargo, we have shown the world that NLNG is a world-class company, safely and reliably delivering clean energy to its customers. Secondly, and most importantly for Nigeria, it shows that it is time for gas; it is time to encourage this success story. This is the time to unleash the country’s gas potentials through catalysts like Trains 7 and 8 to spur industrial and economic transformation.

“NLNG is a success that we need to sustain as an inspiration to the country. It has generated US$90 billion in revenues as well as paid US$5.5 billion in taxes. The Company has generated US$13 billion for the Federal Government through feedgas purchases and US$15 billion in dividends. While monetising the country’s gas resources, the Company has contributed to the reduction in gas flaring from about 65% before it commenced operations to less than 20% today.

“In addition, NLNG has contributed significantly to the domestic LPG industry, supplying some 40% of the cooking gas available to Nigerian homes and businesses. This intervention continues as part of strategies and initiatives aimed at deepening the availability and usage of cooking gas in the country.

“In the Niger Delta region, NLNG has committed more than US$200 million to Corporate Social Responsibility projects especially in the areas of capacity building and infrastructure development. The company is ready to further commit some N60 billion to see the Bonny-Bodo road come into reality and also commit N3 billion annually for 25 years to transform Bonny into a destination of choice. All these are achieved with a management staff made up entirely of Nigerians and a workforce which is 95% indigenous.”

From an initial investment of some US$2.5 billion, NLNG has grown into a US$15.6 billion investment with an asset base of about US$11 billion. It currently processes for export and domestic use, more than five trillion cubic feet of associated gas which previously would have been flared,  to liquefied natural gas (LNG) and natural gas liquids (NGLs), thereby helping to preserve the environment and support Nigeria’s economic growth.

Since the start of operations in 1999, the company has established a global reputation for being a reliable supplier as well an inspirational business model for Nigeria. 

Currently, NLNG has in its chartered fleet, 23 LNG vessels which is the largest in the sub-region. This is inclusive of six new vessels, constructed in South Korea, which replaced six old vessels. 

NLNG is owned by four shareholders, namely, the Federal Government of Nigeria, represented by the Nigerian National Petroleum Corporation, NNPC (49%), Shell Gas BV, SGBV, (25.6%), Total Gaz Electricite Holdings France (15%), and Eni International N.A. N. V. S.àr.l (10.4%).

Source News Express

Posted 01/05/2017 9:25:16 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Dogara to security agencies: Clear re-claimed areas for...

Recruitment: Navy alerts public on fraudsters

Treated like dogs: SOS message tells heart-rending story...

Breaking News: Hoodlums invade Alade (Lagos) Shopping Mall,...

Muslim students in the US attacked in the...

Kidnapped APC chieftain found dead

Hunters rescue 32 women abducted by Boko Haram’s...

We get N15m monthly and spend about N50m...

Merciless Germans humiliate Brazil 7-1 in World Cup...

APC governors now 23, set to take over...

I will jail corrupt Customs officers, Comptroller-General vows...

Don’t drop pregnant women, nursing mothers from NYSC,...

 

Latest News Leah Sharibu, Dapchi Five and ransom scam, By Ann Mcgregor, PhD Another showdown at APC convention as delegates exchange blows, throw chairs Many feared killed as gunmen invade villages in Plateau Why we did not attend APC National Convention — Kwankwaso Group accuses Bayelsa APC of recruiting cultists for elections ISIS Threat: FG beefs up security, deploys AIG to Lagos airport FG to begin Voluntary Asset Repatriation Scheme as VAIDS expires Surveyors offer to help FG fight insurgency, herdsmen/farmers clash SERAP wins battle to compel Adamu, Ogbeh to account for spending on water US government reunites 522 children removed under 'zero tolerance' NLNG to boost domestic LPG supply with new vessel NEITI urges review of Oil Producing Agreements

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (353,092 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (353,042 views) Shameless Genevieve Nnaji exposes breasts in public (281,031 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (230,626 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (209,454 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (209,447 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (182,283 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (164,471 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (154,151 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (149,064 views) Lagos plane crash: Journalist releases victims’ names (144,239 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,943 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,267) Business Verdict (44) Columnists (871) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (507) Features (608) Global Business Monitor (284) International (2,056) Interview (155) Live Commentary (28) Love Matters (124) News (36,462) Opinion (1,005) Pidgin (10) Politics (5,333) Religion (772) Sports (1,562) Stock Watch (30) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Nigeria vs Iceland 2-0 All Goals & Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement