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NLNG drops gas flaring to less than 20% in 30 years, ups national revenue, growth

More success stories have continued to emerge from the nation’s flagship gas company, the Nigeria Liquefied Natural Gas (NLNG) as the firm reviews performance in the last 30 years of existence.

Explaining more at a Media Luncheon preparatory to the company’s 30 years incorporation and 20 years of safe and reliable production and delivery of LNG to the world, the General Manager, external relations and sustainable development, Eyono Fatayi-Williams said “In the last 30 years, NLNG has reduced gas flaring in the country from 65 percent to less than 20 percent,” adding that “The company has also generated more than $100 billion in revenue and paid about $8 billion in taxes.”

She further averred that the company has paid $13 billion to the federal government for feed-gas purchase and $17 billion in dividends to the federal government.

Apart from revenues wired directly to the Federal Government, NLNG in the last three decades have contributed more than N25 billion to developments in the Niger Delta and N60 billion committed for constructing Bonny-Bodo road.

Fatayi-Williams added that NLNG recently sealed an MOU with the Bonny Kingdom for the economic development of the Kingdom with a N3 billion per annum grant for a 25-year period.

NLNG had been sponsoring the Nigeria Prize for Science and the Nigeria Prize for Literature worth $100,000 each and sponsoring of scholarships, health initiatives and built infrastructure in Bonny Island, its host community and more.

According to her, “These milestones are what have made 2019 a very special and auspicious year for the company. Never before has our history been told the way it has been done this year, showing you in clarity how Nigeria built this company into success. A number stands out in all of these narratives; the number 30. The significance in this is that in our history, major developments and milestones are in blocks of 30 years.

“Starting in the 1960s, it took about 30 years of false and botched starts before the NLNG concept gained traction and the company was incorporated in 1989. From that time, it took another 30 years of developing what you currently see as Nigeria LNG. We have signed FIDs, which paved the way for our current 22 Million Tonnes Per Annum, MTPA.

“The second block of 30 ends this year. We are now in transition, looking into the future and planning for the next 30 years. Train 7 is part of that plan. Train 7 will increase of our production output by 35 percent from 22 Million Tonnes Per Annum, MTPA, to 30 MTPA- another 30 for us. Our future is our growth agenda and that is being a top quartile LNG supplier.  We are fast making progress on this.

Continuing, Fatayi-Williams revealed that “This year, we prepare for the future, to regain our position in the ranks of LNG producers worldwide and to regain our reputation in the world, as the fastest growing LNG plant in the world. We are committed to bringing value to both our shareholders, which include the Federal Government and our stakeholders.”

She assured that NLNG will continue to strive towards maintaining the vision of becoming “a global company, helping to build a better Nigeria.”

The company expressed gratitude to the Nigerian media community for unflinching supports over the years and pledged to deepen the relationship even as the company moves to the next level of service delivery.