Amending NLNG act will reverse its achievements —NLNG boss

The Managing Director/ Chief Executive Officer (CEO) of the Nigeria LNG (NLNG), Tony Attah, has warned that any amendment to the Act that established the company will have negative effects on the business model of the company.

Speaking during a courtesy visit by the Senate Committee on Gas in a statement released by the company and made available to the Nigerian Tribune on Wednesday, Attah argued that the business model of the company was made possible by the NLNG Act which is currently being threatened by a proposed amendment by the National Assembly.

He said that the proposed amendment would have adverse implications for NLNG’s ability to continue its business profitably, to attract future investments, and to help build a better Nigeria.

“NLNG needs all the necessary support to be able to go to the market to raise $15 billion for Train-7 investment which is capable of generating 18,000 jobs. This will enable Nigeria resolve most of the youth restiveness in the country; help the company to remain a global player in the natural gas market and to help build a better Nigeria. We believe we can achieve all these with your help,” he said.

He assured that Nigeria has sufficient proven and non-proven gas resources to the extent that the country was referred to in a global conference, as “gas country that has some oil”, whereas the country actually classifies its economic strength in terms of oil and not gas.

Nigeria’s proven and estimated gas reserves is put at 187 and 600 trillion cubic feet (TCF) respectively, are more than sufficient to serve domestic and commercial needs of the country.

He also pointed out that Nigeria LNG has helped to reduce gas flaring from 65 per cent at the commencement of its operations to about 20 per cent as at today.economy.