Nigeria LNG clarifies role in dry-dock project

Nigeria Lequified Natural Gas (NLNG) has clarified it role in relation to the $1.5 billion dockyard to be sited in Badagry, Lagos.

It says that it is only a facilitator of the $1.5 billion dockyard proposed to be built in the country and not an investor in the project as earlier reported in some media.

Kudo Eresia-Eke, general manager, external relations, NLNG, made the clarification when the Ibifiri Bob-Manuel, president, Rivers Entrepreneurs and Investors Forum, and his team that paid him a courtesy call at his office.

He said NLNG was only involved as a promoter of Nigerian Content.

According to him, 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 explore 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.

The NLNG boss explained that it was up to the investors to decide how and where to invest their money, highlighting that new investors were welcome to develop other dry-docks anywhere in the country.

Bob-Manuel thanked the general manager for clearing the air.

NLNG 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 percent to 11 percent.

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