part 329 Apr 2010 08:02
Sequel to protracted negotiations, policy debates and trade of interests, government's alteration of the policy directive found more expression in the change of the political actors at the helms of the industry.
With the appointment of new Minister of Petroleum Resources and Group Managing Director of NNPC, the policy reversal has come into full view.
NNPC weekend declared that it would help drive the realization of the seventh train of the NLNG, marking return to the nation's drive for capacity growth in the gas liquefaction and export industry.
Managing Directors of both companies, Messrs. Chima Ibeneche and Shehu Ladan respectively, pointed out the importance for the parties to press on with the project which the kick off which has lingered unnecessarily.
At a meeting in Abuja, Mr. Ladan pledged he would mobilize resources to ensure that the LNG Train 7 comes to fruition after ensuring the availability of gas for domestic use, noting that development of the seventh process train has been hampered as a result of the shortage of gas to satisfy local requirement.
He argued that the development of Train 7, complemented by the Brass LNG, in the same region would not only help in disarming militants in the Niger Delta through the numerous job opportunities they would create, but will also cause a ripple effect in both the regional and national economy.
"Luckily the shareholders of the LNG project are not asking us for money because they have money of their own for the project. So the devlopment of the project will not only disarm the militants fighting in the region, but also generate a lot of industries that will employ the youths and keep them occupied, and this will have a multiplier effect in the economy of the region and of Nigeria," Mr. Ladan said.
Also expressing commitment to the Train 7, Mr. Ibeneche said the Liquefied Natural Gas project is the most profitable additional capacity in the LNG, adding that apart from the LNG project, the NLNG is equally committed to ensuring the availability of other gas products such as the Liquefied Petroleum Gas (LPG).
To this end, he sought the support of the NNPC to construct a new LPG jetty and depot in Port Harcourt, Rivers State, for ease of supply and distribution of the product in the country.
Mr. Ibeneche pointed out that NLNG was promoting the expansion of LPG usage in Nigeria by guaranteeing availability of the product, adding that there was every need to increase existing facilities to bring LPG closer to the people.
"There is one major LPG jetty in Lagos, but because of congestion the jetty is not as effective as it should be in product distribution. There is also a small jetty in Calabar, but there is none in Port Harcourt. So if the NNPC with some of its partners can deliver a jetty and a depot in Port Harcourt, we will have broken a jinx on the availability of LPG in Nigeria," Mr. Ibeneche observed.
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