OGR July - August Edition 2020

LNG WORLD NEWS
Chief Sylva: Nigeria will remain in the World’s List of
Top LNG Suppliers
The Honourable Minister of State for
Petroleum Resources, Chief Timipre
Sylva, has said that Nigeria will
remain on the top list of LNG supplier
globally. This statement comes in-line as the
long awaited NLNG's Train 7 Project was
signed.
The minister said: "This is a historic moment.
Nigerians have long awaited the take-off of
the Nigeria LNG Limited's Train 7 Project
because of its significance for the nation.
"With the award of the EPC Contracts, the
construction phase of Train 7 can now
commence in earnest. With its realisation,
Nigeria will retain her pride of place in the
world’s list of top LNG suppliers, and the
government will receive added revenue
through dividends, taxes and levies.
"The Train 7 Project will help NLNG to
further deepen its domestic LPG market
stimulation efforts, an initiative it took on
some years ago that has been of immense
benefit to Nigerians.
"In addition, the award of an EPC contract in
the LNG industry is welcome news
anywhere in the world. Although it might
mean more competition for industry
operators, it ultimately promises greater
availability of cleaner energy necessary for
the sustainability of the environment.
"It is therefore proper to thank the
Shareholders of NLNG for making this
aspiration become reality. They have shown
commendable tenacity, foresight and
business acumen. It is their persistence over
the years that has culminated in a time like
this.
"The tenacity is even more commendable
when one considers that they have not
allowed the challenges and uncertainties
arising from COVID-19 to deter them. They
realised early on that in moments of
adversity the world needs every piece of
positive news to help it endure and to serve
as one more reminder of the resilience of the
human spirit.
"I assure the Management and staff of
NLNG of the continued support of the
Ministry of Petroleum Resources and the
Government of President Muhammadu
Buhari. We are all involved and indeed every
well-meaning Nigerian should be involved -
in doing whatever we can to help make
delivery of the Train 7 Project a reality within
budget and within the stipulated time
frame."
Nigeria: Gas is our main hope for the
future – Tony Attah
The Managing Director & CEO,
Nigerian LNG Limited (NLNG), has
said that gas is Nigeria’s main hope for
the future.
During a sportlight live interview
session on Train 7, at the DMG Africa
Energy Series Webinar, which was
anchored by Pat Roberts, Managing
Director of LNG Worldwide, Attah
said, ” Nigeria has ridden on the back
of oil for over 50 years but now the
time has come for Nigeria to fly on the
wings of gas. Gas is our main hope for
the future! It’s time for gas!”
He noted that Nigeria is a gas country
with some oil, adding that “We must
therefore find a way to bridge the gap
between where we are today, and
where we desire to be. This is the role
that gas is expected to play in the
medium and long term.”
He stated that Nigeria’s scope to
become a leader in the gas market is
huge, as the country holds the 9th
position globally on countries with
proven gas reserves; and has the
potential to become number four.
“Available records show that with
200TCF, Nigeria ranks at No 9 on the
list of nations with proven natural gas
reserves, with potential to be No 4 in
the world from the additional 600TCF
unproven reserves.”
Chief Timipre Sylva
“Scope for Nigeria to become a leader in
the market is massive. Nigeria has a huge
advantage because we have gas in
abundance,” he said.
Speaking on the impact Train 7 would
have on local content, he said that the
project is expected to create over 12,000
new direct jobs, especially in the
construction phase, noting that, “The FID
for Train 7 and award of its EPC contract is
therefore very reassuring as it renews our
hope that Nigeria LNG will maintain a
significant market share in the global gas
market and will continue to reap the
potential benefits in the market.”
The NLNG MD while speaking on energy
transition said: “There is an increasing
push for energy transition from fossil fuels
to new energy. The industry fully
recognizes the case for this switch and the
need to be involved in the protection of
our planet whilst still ensuring we support
the provision of adequate energy to fuel
the growing world population and
economies. “Whilst a quick switch to
renewables and other cleaner energy
sources is desirable, current data
indicates that the practical reality is that it
cannot be achieved on a global scale as
quickly as many parties are pushing for.”
Attah who also spoke on the country’s gas
industry and its competitiveness in the
future, said that the country has a big role
to play in the global LNG market.
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OIL AND GAS REPUBLIC I SPECIAL EDITION