The Nigeria Liquefied Natural Gas (NLNG) Limited has reaffirmed its commitment to delivering economic benefits to Nigerians through its $4.3 billion Train 7 project on Bonny Island in Rivers State.
Speaking at a reconvened session of the Senate and House of Representatives’ Joint Committee on Gas (the Committee), officials of the Company provided necessary information and clarifications to address issues raised by the Committee.
NLNG confirmed that the project, with a total contract sum of $4.3 billion, has reached an overall progress of 67 percent completion, achieving a significant construction milestone of over 45 million man-hours without any Lost Time Injury (LTI).
The Company noted that the project was already delivering on one of its benefits with over 9,000 Nigerians working on the project on Bonny Island, and numerous indirect jobs and businesses emerging and booming as a result of the construction.
It restated that the Train 7 project is a strategic initiative that will support the diversification of the country’s revenue sources, and revenue generation during the Energy Transition and assist the country to achieve the global target of a net-zero future.
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The company also noted that the project remained crucial for monetizing Nigeria’s vast gas resources, estimated at over 200 trillion cubic feet (tcf) of proven natural gas reserves and it remains an inspiration to other gas development initiatives aimed at enhancing gas monetization and utilization in the country.
The NLNG equally stressed the significance of the project to the Federal Government’s Decade of Gas initiative, maintaining that the project tallies with Nigeria’s gas development aspirations, as the outlined initiative is both timely and essential to secure the nation’s future, particularly as the global movement towards a net-zero future accelerates.
It expressed its respect for the National Assembly and committed to collaborate with the legislature to transform Nigeria’s energy landscape while urging all stakeholders including the Federal Government and all well-meaning Nigerians to support the preservation of an enabling environment for its successful completion and the attraction of more transformational projects to Nigeria.
