01 July 2015, Sweetcrude, Abuja – Oil workers, under the aegis of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), have urged shareholders and Board of the Nigerian Liquefied Natural Gas (NLNG), to approve the completion of Train 7 project to make the company more competitive in the global gas market.
It said the completion would enable the country to end gas flaring by harnessing the flared gas for domestic use and for export as well.
Speaking at the 4th Triennial Delegates Conference of PENGASSAN Branch of the NLNG, its President, Comrade Francis Olabode Johnson, said that Train 7 project was established to further exploit the emerging global market demand for LNG and to remain competitive, adding that in 2017, there is expected to be a potential drop in global LNG price due to competition as there is likelihood of increase in the number of suppliers.
He said, “We expect that in the face of a drop in crude oil price and glut in global crude oil market, LNG would have become another veritable source of revenue and foreign reserve for the government and the company.
“Train 7 completion will definitely increase the company’s share of global market, enhance flare reduction or total flare out, and attract $10 billion Foreign Direct Investment (FDI) with zero cash out from the government.”
According to him, “Other benefits Train 7 will bring on completion are job creation through the construction of the plant in Bonny and construction of gas pipelines in other communities; increase capacity to meet domestic market demand, and maximisation of the Nigeria Content Development Act through local capacity building.”
Johnson urged the government to give priority to domestic gas utilisation over export, enhance gas utilisation with full
reappraisal of the Gas Master Plan, and adequately fund the NLNG’s operations.
He also urged the government to extract commitment on gas flare-down to a nearest predictable timeline from the oil and gas companies operating in the country and find lasting solution to incessant vandalism of gas pipelines.