NLNG Bullish on Prospects

By Aiswarya Lakshmi August 25, 2015

The Nigeria Liquefied Natural Gas company (NLNG) has shipped 3,200 liquefied natural gas (LNG) cargoes by Q2 of 2015, since it began international gas exports in 1989, the managing director, Babs Omotowa said, reports Business Day.

Omotowa, said, the gas company during the period under review (1989 to Q2 2015) has converted about 133 billion cubic metres (bcm) or 4.68 trillion cubic feet (tcf) of associated gas (AG) to exports as LNG and natural gas liquids (NGLs), thus helping to reduce gas flaring by upstream companies.

NLNG has a total of 23 ships on long-term charter for its six-train operation. All 23 ships are utilised on an integrated scheduling basis and load at NLNG Terminal in Bonny, Nigeria, for ex-ship deliveries to buyers in Europe, South America, Gulf of Mexico (GOM) including ports in Mexico and US, Middle East and Asia.

The company, has paid almost $21 billion to joint venture (JV) feedgas suppliers from inception till date, out of which 55 to 60 percent of the amount went to the Federal Government via its shareholding in Nigerian National Petroleum Corporation (NNPC), he said.

NLNG is jointly owned by the Nigerian National Petroleum Corporation (49%), Shell (25.6%), Total LNG Nigeria Limited (15%) and ENI (10.4%).