OrderPaperToday – The Nigeria Liquefied Natural Gas (NLNG) has disclosed that it has generated $108 billion and paid $35 billion dividends to shareholders in its 21 years of operation in the country.
Mrs. Eyono Fatayi-Williams, General Manager, External Relations and Sustainable Development of the NLNG, made this disclosure on Thursday while briefing the House of Representatives Committee on Gas Resources in the National Assembly complex.
The official also said with the installed assets base of $11 billion, the company has paid in $8 billion taxes in the period under review.
Fatayi-Williams also stated the company has delivered over 5000 cargoes around the world, adding that the company has 23 dedicated ships and installed six LNG trains with 22 million tons capacity at Bonny Island.
Making clarifications on gas flaring in the country, she said in the early days of Nigeria exploring crude 65% of the gas that is produced with crude exploration was flared.
“The intervention was to have LNG plant that would utilize that otherwise flared gas to reduce gas flaring and bring about a cleaner environment. We are proud to say that today, less than 12% of the gas that is produced with crude is flared. It’s a significant reduction,” she said.
Fatayi-Williams also claimed Nigeria is currently rated 9th in the world with 200 Trillion Cubic Feet (TCF) of proven gas reserves, stressing that with the 600 TCF of unproven gas reserves, Nigeria will rank 4th globally in the ranking order of proven gas reserves in the world.
She also said the Word Bank data showed about 100,000 Nigerians die annually due to firewood smoke inhalation and related complications mostly women and children and called for the use of gas for cooking.
“If you compare this with the number of people who have died of COVID-19 complication which is less than 2000 as reported by NCDC, very little is said about the 100,000 who die of firewood and smoke.
“The use of firewood is a double edge sword; it is not only leading to a significant number of deaths, we also know that cutting timber for firewood leads to deforestation, which later leads to desertification”.
Earlier, the Managing Director/CEO of NLNG, Tony Attah, sought the partnership of the parliament to exploit the abundant potential in the gas sector to boost Nigeria’s economy.
He said there are many countries Nigeria can look up to in terms of what gas can do like Qatar, Trinidad and Tobago and the Netherlands.
“We are ready to partner with your committee to bring about that progress that is required to unleash the potentials of gas. We have the potential to become number four in the world, we have 200 TCF proven and we know of 600 TCF unproven; if we prove that, Nigeria will become fourth in the world.
“Because of the changing energy mix, the world is moving from dirty to clean energy; by 2050, there will be nine billion people in the world. Today we have about seven billion, so it is like adding one new India and China to the world; where will the energy come from?
“So there is that dilemma, the world will need more energy, it needs it clean and cheaper and gas has offered itself not only as a transition fuel but also a destination fuel. We see gas as food because of its role in fertilizer production, we see gas as employment, we see gas an industry, power and transport as most country have trains and cars running on gas”, he said.
Earlier, Chairman of the Committee, Nicholas Mutuh, stated that the Committee was keen on promoting optimization of resources by the re-utilization of by-products to enhance the gas value chain and create opportunities for those in the downstream of the value chain.
“In this regard, we call on you to provide data and strategies to support off-taker to re-use products from your production processes, which as you know, would be feedstock to other industries. The object is to create opportunities, jobs, and livelihoods by stimulating the growth of Small and Medium Scale Enterprises.
“In today’s meeting we hope to get a good understanding of the workings /performance report of your operations, the challenges and the legislative support needs, going forward. We also would want to be briefed on the status of Train 7 project and the business case that led to the signing of the FID”, the NLNG boss stated.