Babs Omotowa, managing director, Nigeria Liquefied Natural Gas company (NLNG), Bonny Island, Rivers State, has said that the gas company during the period under review (1989 to second quarter of 2015) has converted about 133 billion cubic metres (bcm) or 4.68 trillion cubic feet (tcf) of associated gas (AG) to exports as liquified natural gas (LNG) and natural gas liquids (NGLs), thus helping to reduce gas flaring by upstream companies.
Omotoso stated this while speaking at the fourth Port Harcourt international petroleum downstream conference/exhibition on gas, petroleum refining, petrochemicals and fertilizers, organised by the University of Port Harcourt’s Centre for Gas, Refining and Petrochemicals, Institute of Petroleum Studies (CGRP/IPS),
Omotowa, who was represented at the event by Isa Mohammed Inuwa, his deputy, also disclosed that the NLNG has shipped 3,200 liquefied natural gas cargoes by second quarter of 2015, since it began international gas exports.
He said that the company, has paid almost $21 billion to joint venture (JV) feed gas suppliers from inception till date, out of which 55 to 60 per cent of the amount went to the federal government via its shareholding in the Nigerian National Petroleum Corporation (NNPC).
The MD also said currently with 24 ships, NLNG manages the largest fleet of ships by any Nigerian company; adding that the company would acquire six additional ships by the end of 2015, to raise its fleet to 30.
Meanwhile, he said over the years, NLNG has paid dividends of almost $30 billion, out of which 49 per cent went to the federal government through the NNPC.
Also, the gas company, in 2014 paid N220 billion as corporate income tax, thus making it by far, the highest taxpayer in Nigeria and sub-Saharan Africa.
On attraction of foreign direct investment (FDI), Omotowa said, NLNG, with its current asset base at over $14 billion, since its construction, has generated considerable FDI.
Meanwhile, despite these positives, the major gas company only contributes about one per cent to Nigeria’s gross domestic product (GDP), especially since the country’s 2013 economic rebasing.
On Nigeria Local Content, he said the gas company has promoted development and employment of Nigerians; saying that 600 persons would be trained at the Hyundai and Samsung shipyards in Korea as part of Local Content deliverables tied to the construction of six new LNG vessels by Bonny Gas Transport (BGT), a wholly owned subsidiary of NLNG.

Maureen Nzeogu
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