NLNG Clarifies Role In Dry Dock Project | Independent Newspapers Limited
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NLNG Clarifies Role In Dry Dock Project

Posted: Jul 7, 2015 at 12:00 am   /   by   /   comments (0)

Nigeria Liquefied Natural Gas (NLNG) has said that it was only a facilitator of the $1.5b Dockyard proposed to be built in the country and not an investor in the project.

This, it said was contrary to an earlier report in some media.

General Manager, External Relations Nigeria LNG, Dr. Kudo Eresia-Eke, made the clarification when the President Rivers Entrepreneurs and Investors Forum, Mr. Ibifiri Bob-Manuel, and his team paid him a courtesy call at his office.

Dr. Eresia-Eke said NLNG was only involved as a promoter of Nigerian Content, explaining that the company insisted on three elements as part of the Nigerian Content for the ship building acquisition by one of its subsidiaries, Bonny Gas Transport Limited. One of these elements, he said, was that the shipbuilders explore possibilities of creating a Dry Dock facility in Nigeria, training of at least 600 Nigerians in ship maintenance, and the purchase from Nigeria of local Nigerian products for the ship building project in South Korea.

He noted that Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) are constructing six new LNG carriers for NLNG subsidiary, Bonny Gas Transport Limited.

Dr. Eresia-Eke explained that it was up to the investors to decide how and where to invest their money while also highlighting that new investors are welcome to develop other Dry Docks anywhere in the country.

The President of the forum, Mr Ibifiri Bob-Manuel, thanked the General Manager for External Relations, Dr. Eresia-Eke, for clearing the air.

Nigeria LNG Limited said it was 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. It noted that 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%).