Home Business News NLNG targets over 300 cargoes yearly to global market

NLNG targets over 300 cargoes yearly to global market


The Nigeria LNG (NLNG) Limited has said that it is currently able to deliver yearly over 300 cargoes of its products to gas consumers globally from its six-train 22mtpa LNG nameplate production capacity and 5mtpa NGLs production capacity.

This disclosure was made by the company’s Managing Director, Mr. Tony Attah, when the company hosted the ambassadors of The Netherlands and Spain at its production facility in Bonny, Rivers State.

Speaking on the company’s business model and success rating with the visiting diplomats, the NLNG boss was quoted in a statement issued by the company’s Manager, Communications and Public Affairs, Andy Odeh, as saying said that the company now ranked fourth amongst top LNG exporting entities globally, supplying 7 percent of the global market share.

Attah explained: “Nigeria is largely a gas country with little oil. There are huge economic prospects in investments to utilise the proven and unproven reserves, to solidify the country’s positioning in the international LNG space and also to serve the country’s growing domestic needs for power and industry.

“NLNG believes that we can and must do more by convincing Nigeria that the future is Gas. We need to invest more in Gas Development. If we do nothing, we will drop our global rating in the list of Gas nations.”

”We are working to grow our operations through the expansion of our plant by building Train 7. This will increase our production capacity by about 36 percent from 22MTPA to 30MTPA, boost revenue to the Federal Government and our shareholders; further help to monetize Nigeria’s gas and create about 10,000 jobs at the construction phase”, he added.

The company’s Chief Executive Officer (CEO) also confirmed to the envoys that efforts were being made by its Board and management of turning Bonny, its major host community, into a tourist haven with an annual contribution of three billion naira for the development of the Island over a period of 25 years.

He pointed out that this and other Corporate Social Responsibility (CSR) investments by the company would impact positively on Bonny and other riverine communities.

For instance, he cited the Bonny-Bodo road project to which NLNG is contributing 50 percent of the cost and commended the diplomats for their support to the NLNG’s advocacy against proposed NLNG (Amendment) Act.

, the two Envoys commended the NLNG management for its outstanding commitment to the development of the gas sector and the host community, Bonny.

In his remarks, H.E Robert Petri of the Netherlands lauded the entrepreneurial spirit of Nigerians and gave assurance that his country will continue to support the development of the private sector in Nigeria to create more business opportunities and jobs.

Similarly, the Spanish Ambassador, H.E Marcelino Ansorena, rated NLNG’s commitment to the development of Bonny Island as well as the company’s global listing as an Anti-Bribery and Corruption compliant company as worthy of emulation by other companies nationwide.