From an initial investment of about $6 billion, NLNG has grown into a $15.6 billion investment with an asset base of about $11 billion
The Final Investment Decision (FID) on Train 7 expected to gulp $15billion (about N4.5.75 trillion) would be taken in 2018, New Telegraph has learnt.
The Nigeria Liquefied Natural Gas (NLNG), prospective owner and operator of the train, said this in document sighted by New Telegraph.
The company, according to the document, had already told investors and stakeholders at the World LNG Summit in Portugal the steady progress it is making towards “achieving Final Investment Decision (FID) on its Train 7 Plus (7+) project during 2018.”
This phase of the company’s strategic growth programme will on completion upscale NLNG’s annual production capacity from the current capacity of 22 mtpa to 30 mtpa.
“With Nigeria’s proven reserves of about 192 trillion cubic feet of natural gas, and another 600 trillion cubic feet in potential, this milestone development is coming at a crucial time. I am excited about this development, which would not be possible without the support of our Board and shareholders, the shared vision within our company of helping to build a better Nigeria; our core values of Integrity, Teamwork, Respect, Excellence and Caring; the commitment of our staff; and the cooperation from Government and other stakeholders including our loyal customers,” Managing Director and Chief Executive Officer of Nigeria LNG Limited, Mr. Tony Attah, had earlier said during the Portugal Summit.
“This milestone would symbolise many things. We have consistently shown the world that NLNG is a world-class company, operating out of a globally strategic country, safely and reliably delivering clean energy to its customers. Secondly, and most importantly for Nigeria, it shows that it is time for gas; This is the time to unleash the country’s gas potential through catalysts like Trains 7 Plus to spur socio economic transformation.”
Attah had earlier said that his company would raise $15 billion dollars investments from the Train 7.
NLNG, Attah said, according to a statement issued by General Manager, External Relations, Kudo Eresia-Eke : “remains a success and we are determined to sustain our status as an inspiration to Nigeria. The company has generated $90 billion in revenues as well as paid $5.5 billion in taxes to the government. The company has also has helped monetise the country’s gas resources and significantly contributed to reducing gas flaring from 65% to less than 20%.”
NLNG runs an integrated plant on Bonny Island where its current six liquefaction trains share common facilities including storage tanks, shipping capacity and loading jetties with a gas intake of 3.5 billion standard cubic feet of natural gas per day.
TCIP Customs explains cargo clearance delays at port
The Tin Can Island Command of the Nigeria Customs Service has said the recent in cargo clearance being witnessed by importers and Customs Brokers at the Apapa and Tin Can Island Ports in Lagos is because the NCS Internet Server was down thus impeding cargo documents processing.
This was disclosed by the Tin Can Island Customs Public Relations Officer, CSP Tony Ejesieme during a chat with the Sunday Telegraph on Wednesday at the port city of Apapa.
Ejesieme noted that the internet network breakdown as experienced by the Service could cause delay at anytime and was not the fault of the NCS but that of a bad weather.
The PRO, who admitted that there was delay in cargo release, said the command had not captured any importers for cargo release but was optimistic that the network would surge back and cargo clearance processing would commence immediately.
“We have not been able to work since morning as no importers have been captured. This is another delay; issuing debit note has become a problem. But the network will certainly come back and we will commence work immediately,’’ said he.
According to him, the major reasons for delay were non-compliance with import guidelines, wrong classification and declaration by importers, and lack of working scanners.
He, however, absolved the Service of any complicity and maintained that the NCS works based on procedure. ‘’Whatever we are doing is based on procedure and in accordance with the import laws. It is true that there is delay; if there are issues of infraction, there will be delay,’’ he said.
Ejesieme also caused by lack of scanners, saying that all scanners in all the ports in Lagos have broken down completely except only one in Apapa which could not handle all cargo in the port and that is why many cargos are routed to physical examination.
‘’Scanners are not working; only one is working in Apapa, no one in Tin Can. The issue of scanners has to be settled and we have engaged government on it.’’
Advising importers and customs agents to adhere to the import guidelines, he said that the security of nation as the nation approaches the general elections in 2019 would not be compromised as the Service is working with other government agencies to protect the territorial boundaries of the nation.
UBA Foundation reading through regions in Africa
As part of its mission to improve the lives of communities in which the United Bank for Africa operates, UBA Foundation said it has continued to encourage African youths to adopt the culture of reading through its ‘Read Africa’ initiative.
Read Africa aims to rekindle the reading culture amongst young Africans. Designed and introduced in 2011 by the UBA Foundation, the initiative has donated hundreds of thousands of books to African schools since its inception.
This past week, The Foundation took its initiative to the francophone city of Libreville to the students of the George MABIGNATH high school in Gabon.
The launch of Read Africa in Gabon saw in attendance, the author of the selected book Sidonie, written by famous Gabonese writer Chantal Magalie MBAZOO.
It was a colorful ceremony that witnessed the CEO of the Foundation, Bola Atta reading to and interacting with the students in high energy in the presence of their Principal, Mrs. Boudounghou Biboutou Isabelle and other staff members.
Bola Atta summarized the Foundation’s initiative saying, “At the UBA Foundation, we are committed to improving the lives of the youths on the continent and one of the ways we can achieve this is to help you read more. I am here to talk to you a little about the importance of reading and how it can radically change your life. Reading encourages you to dream, it expands your knowledge, your vocabulary. It is a path to achieving your ambitions”.
Chioma Mang, the CEO of UBA Gabon also reiterated the mission of UBA and emphasized the bank’s commitment to the Gabonese community. “ I love children and I am happy to be here with you all today. I’d like to encourage you to read very well so that you can reach great heights in your life like me. UBA is going to be there for you all the way. You can count on us”, she said.
The Read Africa initiative then moved on to Zambia to the Horizon Secondary School in Lusaka where the Director in the ministry of higher education in charge of Vocation, Education and Training, Mr. Alex Simumba, thanked UBA and the Foundation for the good work that is being done across Africa. He said, “To UBA Foundation, we thank you for your support to the institution today. We welcome this and many more collaboration in the field of literacy and other higher education programmes. We also further encourage other private sector organisations to take a keen interest in such programmes because the youths who are receiving these literary materials will be benefitting greatly from them,” he said.
Shell has disbursed N1.88bn to GMoU clusters in Delta State
The General Manager, External Relations, SPDC, Mr. Igo Weli has said that Shell Petroleum Development Company, (SPDC) is still active in Delta State noting that the oil giant has executed a lot of projects in the state.
According to him, the oil giant has disbursed a total sum of N1.88 billion to Global Memorandum of Understanding (GMoU) in clusters.
Igo Weli, who disclosed this when he spoke with newsmen in Warri on Thursday, revealed that the GMoU funding covers the three clusters currently active in Delta State since the inception of the concept in 2006, adding that Cluster Development Boards (CDBs) like their counterparts in other parts of the Niger Delta, are implementing health and educational projects among others.
During the media presentation of the 2018 Shell Nigeria Briefing Notes to Journalists, he also disclosed that Shell has established a Professorial Chair at the Federal University of Petroleum Resources, Effurun (FUPRE,) as it continues to operate in the state and contribute to its development.
Weli explained that the Professorial Chair in Light Weight Automobile Engine Development was activated at FUPRE in December last year and is the latest of six established by SPDC JV, noting that the Chair at Effurun is expected to contribute to the growth of local content in Nigeria’s automobile industry.
He added that in a bid to boost employment especially among youths, more than 700 young men and women have benefited from Shell’s LiveWIRE initiative between 2003 and 2017.
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