The Nigeria Liquefied Natural Gas (NLNG) has revealed that Nigeria has the potential to become the world’s number one oil and gas nation if deliberate efforts are put in to actualize that ambition.
This was disclosed by the Managing Director of NLNG, Mr Tony Attah, who was represented by Mrs Eyono Fatayi-Williams, General Manager, External Relations, NLNG, on Tuesday at the ongoing Nigeria Oil and Gas Conference in Abuja, according to NAN.
What the Managing Director of NLNG is saying
Attah said no country is ready to wait for Nigeria to develop its gas infrastructure as more African countries have emerged in the energy space.
The NLNG boss said, “We must prove the 600 tcf, develop infrastructure and enforce provisions of the gas pricing.
“With our current gas reserves, we are ninth in the world with potential to be the first depending on how ambitious we want to be as a nation and the deliberate actions that we must take to actualise this ambition.
“Our gas reserve utilisation when compared with two industry players – Australia and Indonesia, should challenge us to go for more market shows.
“No country will wait for us to catch up but will continue with their close ambitions. And with the emergence of more African countries such as Mozambique, Senegal and Mauritania in the energy space, we must ensure that our number one position in the continent is not threatened by a market status.
“Qatar and Australia are not resting on their oars but are aggressive about their growth ambitions, and Nigeria should not be different.’’
Attah further said that the development of the country’s gas sector would eventually determine its future and its infrastructure.
He said, “The flexibilities, the management space, disruption in the business environment means that our response to this reality is what will determine our future.
“Today, with the volatility in the business place, we must determine the future we want for ourselves as a gas nation.
“We need the understanding to deal with the uncertainty. And we are on that path. We must utilise our gas.”
He, however, expressed the optimism that the country would achieve its set ambition in gas with the inauguration of “Train 7” of its gas project.
What you should know
- In a bid to fully utilize the country’s vast gas potential and diversify revenue sources, President Muhammadu Buhari, in June 2021, flagged off the construction of the $10 billion Nigeria Liquefied Natural Gas (NLNG) train 7 project, asking for timely completion of the project.
- Attah said that 12,000 direct jobs, 40,000 indirect jobs and $10 billion Foreign Direct Investment (FDI), were some of the benefits that would follow the “Train 7” gas project upon completion as well as boosting the domestic gas supply of LPG by 35% from the 350,000 metric tonnes to over 470,000 metric tonnes.