By Emmanuel Nduka
The Nigerian Liquefied Natural Gas (NLNG) yesterday in Abuja said its revenue generation since 1999 has exceeded $110 billion.
According to its Managing Director, Mr. Tony Attah who made this disclosure at the press conference, also announced the firm’s Sales and Purchase Agreements (SPAs) with off takers for the supply of domestic LNG.
“At the home front, we are distinguished as a development partner with Nigeria’s Government, with our six-train plant generating more than US$110 billion in revenue since it began operation in 1999,” part of his disclosure said.
He added that Nigeria LNG has paid about $18 billion as dividends to the Federal Government of Nigeria, through the state-owned Nigerian National Petroleum Corporation (NNPC) 49 per cent shareholding and equivalent amount as dividend to the other three shareholders in the same time period.
Mr Tony also revealed that the company has paid about US$15 billion for feed gas purchases to the Federal Government of Nigeria through its shareholding in NNPC, and about USD9 billion in taxes.
The NLNG MD noted that besides, the Domestic LNG Scheme, the company has the ongoing Train 7 project with capacity to attract about $10bn in foreign direct investment.
“We are also looking to expand the LPG value chain by increasing our supply to the domestic market, guaranteeing LPG supply and enhancing its affordability, and enabling the development of a value network for a sustainable ecosystem.
“We have dedicated 450ktpa of LPG to the market and our focus is to support the use of cleaner energy to protect our citizens and the environment from the hazards posed by other cooking fuels by encouraging the use of cooking gas in Nigeria.
“It is my pleasure, to welcome you and announce that our commitment, as a corporate entity, to unlocking gas utilization is now backed by the execution of Sales and Purchase Agreements (SPAs) to supply 1.1 Million Tonnes Per Annum (MTPA) of LNG on DES basis to Asiko Power Limited, Bridport Energy Limited and Gas-Plus Synergy Limited,” he added.
He further explained that the SPAs will facilitate the project execution and development of infrastructure led by off-takers to aid LNG delivery into the domestic market.
According to him, the execution of these SPAs follows a Domestic LNG (DLNG) Workshop which was held in November 2019 to stress test the delivery model with industry stakeholders and a series of engagements to identify suitable actors to co-create the initiative and stimulate market interest for potential off-takers.
While congratulating the Board of Directors and Shareholders for the demonstration of faith in the Decade of Gas vision, and commitment to the actualization of that vision, he also commended the Department of Petroleum Resources (DPR) for playing a critical role over the years.