The Nigeria Liquefied Natural Gas Ltd., says its ongoing plans to reach a Final Investment Decision on its Train-7 project by December will make Nigeria the 3rd World largest gas exporter.
The NLNG General Manager Production, Mr Tayo Ogini, said this on Saturday while making a presentation on the facility located at Bonny Island on Saturday.
The presentation was to acquaint the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, who visited the plant to see the progress made on the project so far.
According to the presentation, Nigeria is presently the fourth exporter of gas in the world.
The NLNG has six operational trains (gas plants).
The first train was built in 1989 but by 2007 till date, plans to build Trains 7 and 8 were shelved.
The six trains have a combined capacity to produce 22 metric tonnes per annum (mtpa) of Liquefied Natural Gas (LNG).
However, plans to invest seven billion dollars on the Train-7 project would expand its production capacity to 30 mtpa making Nigeria the 3rd largest exporter of gas in the World after Qatar and Australia.
Ogini said the gas produced in Nigeria was world-class, adding that the NLNG had built a reputation of reliability in its gas supplies around the world.
According to him, the hub of crude oil exporters on the island namely: Shell SPDC, ExxonMobil and the NLNG can easily produce two million barrels of oil per day.
Ogini said the country had 23 NLNG carriers which had sailed more than 4,000 cargoes making it the largest in Africa.
He, however, said the companies were being faced by inadequate infrastructure, adding that with the three-year Bonny-Boro road project which the company had embarked on, part of the problem would soon be addressed.
Responding, Kachikwu commended the NLNG management for its efficiency, saying the company was a testament to the fact that things could be properly done in Nigeria.
He recalled that during the cash crunch of 2016, NLNG saved the day and helped to avert a shutdown of the nation’s economy.
According to the minister of state, the Train-7 project is fantastic but Nigeria is not yet where it should be.