We’re only facilitator of $1.5bn proposed dockyard, says NLNG

04 July 2015, Lagos – The Nigeria LNG Limited has clarified its role in the $1.5 billion dry dock project, proposed to be built in Nigeria, saying that it was only a facilitator of the dockyard and not an investor in the project as reported by a section of the media.

NLNGSpeaking when the President, Rivers Entrepreneurs and Investors Forum, Mr. Ibifiri Bob-Manuel, and his team paid him a courtesy call at his office, NLNG’s General Manager, External Relations Nigeria LNG, Dr. Kudo Eresia-Eke said in a statement released by the company’s Manager in charge of Corporate Communication and Public Affairs, Mr. Tony Okonedo that NLNG was only involved as a promoter of Nigerian Content.

Eresia-Eke said 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 was that the shipbuilders explored 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.

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

Eresia-Eke, explained that it was up to the investors to decide how and where to invest their money.

He also highlighted that new investors were welcome to develop other Dry Docks anywhere in the country.

The President of the forum, Bob-Manuel thanked Eresia-Eke, for clearing the air.
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 per cent.

NLNG is owned by four shareholders, namely, the Federal Government of Nigeria, represented by the Nigerian National Petroleum Corporation, NNPC (49 per cent),  Shell Gas BV, SGBV, (25.6 per cent), Total LNG Nigeria Limited (15 per cent), and Eni International (N.A,) N. V. S. a. r. l (10.4 per cent).


– This Day

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