July 05, (THEWILL) – President Bola Tinubu has given his support to the execution of the first floating Liquefied Natural Gas (LNG) project in Nigeria
The President, who gave the assurance in Abuja, on Wednesday, when he received the team of developers of the project at the Presidential Villa, Abuja, also assured Nigerians that the development would soon become a reality.
Leader of the delegation, Julius Rone, disclosed this in an interview with State House Correspondents at the end of the visit.
“I am here with our technical partners from France and Japan. We are developing the first floating LNG in Nigeria in conjunction with the National Petroleum Company Limited (NNPCL).
“This is the first time an indigenous company from Africa is taking on such a project. We have just gotten one of our best days in our transactions. The President has given us all the assurances and full support for this project.
“We are excited because the President spoke very well on the need to develop our gas resources and he believes in the floating LNG technology and he assured us that there will be no stone left unturned to enable us to deliver this project as planned and on schedule,” he said.
Rone disclosed that when completed, the project will generate three hundred thousand tons of LPG per annum, as well as create seven thousand jobs for Nigerians.
“This project has the capacity to deliver 300,000 tons of LPG per annum to support the domestic requirement of LPG. That is 25 percent of the requirements of PLG in this country.
“That will save the environment from deforestation and on the part of job creation; this project has the ability to create 7000 jobs for Nigerians. Many Nigerians are already working in various parts of the world on the engineering aspect of it.
“On the local content part, we are working with the Nigerian Content Development Board to ensure that citizens are trained on how to manage and operate the plant when it becomes operational. So, we believe that this will support job creation in line with the President’s objective to create jobs and monetize our gas resources,” he added.
Rone also disclosed that Afreximbank is facilitating the financing of the project with financial closure envisaged for Q4 2023.
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