A delegation of the House of Representative (HoR)’s Committee on Gas Resources led by its Chairman, Hon Frederick Y. Agbedi has paid a visit to the Nigeria LNG (NLNG) Limited management. The visit according to a statement from the company has provided a good opportunity for the Committee to learn about the strategic business objectives and workings of the company, with a view to facilitate NLNG’s goals, aspirations and future outlook, particularly as it relates to the socio-economic development of the Nation.
The Deputy Managing Director, NLNG, Sadeeq Mai-Bornu, in his remarks at a brief reception for the visitors at the Plant Complex, stated that NLNG is fully committed to its vision of being a global LNG company helping to build a better Nigeria. NLNG’s participation by way of 50% funding of the construction of the $120bn Bonny/Bodo road, has made it a leading company in vital areas of public-private participation and sustainable development of the Niger Delta.
Mai-Bornu also confirmed the status of the progress NLNG is making towards achieving Final Investment Decision (FID) on its Train 7 Plus (7+), stating that “NLNG has helped monetise the country’s gas resources and significantly contributed to reducing gas flaring from about 65% to less than 20%”. Also alluding to the company’s commitment to supply 350ktpa of LPG for domestic consumption, he stated that “NLNG believes that it can be a catalyst for sustainable growth and development in the gas sector, holistically for Nigeria; in terms of enhanced revenue, safer environment and cleaner more affordable energy”.
Responding, Hon. Agbedi commended the high safety standards and business consciousness visible in NLNG’s operations, noting that “these are the elements responsible for the huge success of the company.” He added that “NLNG is a role model in CSR in the Niger Delta region and the entire country”. He further advised the company to make the Bonny/Bodo road project a reality, in order to help sustain the confidence and continued support of its host communities and other stakeholders. “NLNG’s contribution to Nigeria is significant, having generated over $90 billion in revenues as at 2015, paid over $5.7 billion in taxes and committed over $200 million to CSR programmes”.
NLNG is owned by four shareholders, namely, the Federal Government of Nigeria, represented by the Nigerian National Petroleum Corporation, NNPC (49%), Shell Gas B.V. (25.6%), Total Gaz Electricite Holdings France (15%) and Eni International N.A. N. V. S.àr. l (10.4%).