Oil price won’t derail LNG project — Gaius-Obaseki

*Jackson-Gaius-Obaseki, Chairman, Brass LNG.

*Jackson-Gaius-Obaseki, Chairman, Brass LNG.

28 January 2016, Lagos – The Chairman, Brass Liquefied Natural Gas, LNG, Limited, Dr. Jackson Gaius-Obaseki, has said that the low price of crude oil in the international market will not adversely affect the realisation of the LNG project, and that the dwindling oil price had led to a review that would help increase viability and bring down the cost of the project.

This was in the face of fears that the low oil price might have made the project, which is capable of generating over 10,000 jobs and around eight million metric tonnes of gas, not to be economically viable.

Speaking at the 11th Annual General Meeting of the company in Abuja, Tuesday, Gaius-Obaseki also stated that the cost of the project had been reviewed downwards, while the project could commence with a single train and an eye on the second train thereafter.

  • Vanguard
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