L-R: ISA INUWA, DEPUTY MANAGING DIRECTOR, NLNG; CHIMA ISILEBO, GM, PRODUCTION, NLNG; ANDREW YAKUBU, GMD, NNPC AND KUDO ERESIA-EKE, GM, EXTERNAL RELATIONS, NLNG DURING A RECENT VISIT OF THE GMD NNPC, TO NLNG PLANT COMPLEX IN BONNY
25th July 2014
Nigeria LNG Limited (NLNG) today (Friday July 25 2014) welcomed Engineer Andrew Yakubu, Group Managing Director (GMD) of the Nigerian National Petroleum Corporation ( NNPC), and other senior members of his team to its six-train plant complex on Bonny Island, Rivers State.
The GMD was received by Mr. Isa Mohammed Inuwa, the Deputy Managing Director, NLNG and other members of the company's senior management team . According to Inuwa, " Engr. Yakubu's visit to NLNG today, the first of its kind by a sitting NNPC Group Managing Director, is a privilege and demonstrates his rare commitment to success and development by a key stakeholder."
Chima Isilebo, General Manager, Production, NLNG, gave an overview of the NLNG's production performance as well as challenges it is facing in the global LNG market. He highlighted the fact that, " In line with the federal government's vision of generating as much revenue from gas as from oil, NLNG starting out with a Base Project of only two trains with a capacity for about six metric tones of LNG per annum now produces 22million metric tones of LNG with progressive plans for a seventh train, expected to raise production to about 30million tonnes. NLNG has successfully pioneered gas monetization and is currently the 8th largest supplier of LNG in the world, making it a large-scale LNG plant by world standards. NLNG used to be the 10th largest supplier but it is gradually losing the market to international competitors who have continued to expand their businesses. It is therefore imperative that NLNG increases its production in order not to lose more market share."
Speaking after a guided tour to the plant Engineer Yakubu expressed satisfaction at the significant contributions of NLNG to Nigeria's economy and global reputation as a reliable energy supplier. " With the success of NLNG on Bonny Island, doubts about Nigeria being able to successfully drive a project of this scale from construction through to operation has been paled into insignificance. NLNG should constantly engage its regulators to ensure its glowing records of achievement of prompt delivery and meeting it's contractual obligations to its numerous customers around the world is clearly understood and appreciated."
Nigeria LNG Limited is the most significant arrow-head of the federal government’s continuing efforts to eliminate gas flaring and derive value from the country’s 187 trillion cubic feet of proven gas reserves.Official statistics indicate that Nigeria's gas flaring profile, previously one of the highest in the world has further reduced from 25 to 11 percent.
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 LNG Nigeria Limited (15%), and Eni International (N.A,) N. V. S. a. r. l (10.4%).
General Manager, External Relations
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