Upon reaching a final investment decision on the Train-7 project by December, the Nigeria LNG Limited (NLNG) is confident that the milestone will make the west African country the third largest gas exporter globally.
The general manager of production at NLNG, Tayo Ogini, made this bold declaration over the weekend during his presentation on the facility located at Bonny Island.
Premium Times reported that the presentation was to inform the Minister of State for Petroleum Resources, Ibe Kachikwu, who visited the plant to see the progress made on the project thus far.
According to the presentation, Nigeria is presently the fourth exporter of gas in the world.
NLNG, which currently operates six gas plants, plans to invest $7 billion on the Train-7 project and expand its production capacity to 30 mtpa.
This move is envisaged to make Nigeria the third largest exporter of gas in the world after Qatar and Australia.
Nigeria lagging behind in exporting gas
Although the minister of state, commended the Train-7 project, he said Nigeria is not yet where it should be. Read more: Nigeria urgently needs its Petroleum Industry Bills signed into law
The minister then challenged the NLNG to begin to think of exporting 40 mtpa over the next 30 years, as well as tackle the issue of gas pricing as most importers of domestic gas prefer to bring in shipments than to patronise the NLNG.
Kachikwu also called for more collaboration between NLNG and Brass as well as Olokola LNG projects.
“We have opportunities that are stranded everywhere – Brass LNG in terms of shareholding and financing; OKLNG in terms of even taking off the ground.
“I am saying as the grandfather of this business – they built six trains, looking at seven, hopefully potentially more. Let’s begin to look at minimal investments, through structures and designs and reconfiguration and expert advice.”
Kachikwu added: “You can actually hand-hold some of those trains that are beginning to lag behind so that the whole founding father concept of ‘take this all over the place’ can happen.
“We are going to be reaching out to them, not from an imposition point of view but from a collaborative point of view to see what we can do and learn from what they have done well.”