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NNPC says FG gas revolution agenda intact

by Business News Report

The Nigerian National Petroleum Corporation (NNPC) said on Monday that the Federal Government gas revolution agenda was intact. The corporation said that decision of Shell and Chevron Nigeria Limited to withdraw from the Olokola Liquefied Natural Gas Project would not derail the policy. This is contained in a statement issued in Abuja by Ms Tumini Green, Acting Group General Manager, Group Public Affairs Division of the NNPC.
The statement said the Gas Revolution Agenda, launched in March 2011, was not only intact but had also taken off with significant progress in gas supply for power generation and industrial usage. “The Federal Government Gas Revolution Agenda, which is an integral part of the Gas Master plan, cannot be derailed just like that. NNPC can confirm that the exit of Shell and Chevron will not impact on Mr President’s Gas Revolution Agenda.
“In fact, very good progress is being made with domestic gas supply which has reached the highest level of 1500mmcf/d from about 500mmcf/d about three years ago,’’ it said.
It noted that more than 70 per cent of this gas was being directed to the power sector pursuant of the Gas Revolution Agenda. It explained that the gas-based industrialisation agenda of President Goodluck Jonathan planned for Ogidigben in Delta had teed-off with site data gathering activities. It stressed that major new heavy gas-based industries such as fertiliser and petrochemicals, among others, would come on board to create the “All these are very much under way and unaffected by the recent exit of Shell and Chevron from OKLNG. Similarly, the Brass LNG project is unaffected by this exit as shareholders of the Brass LNG are differen
According to the statement, the NNPC is determined to continue to work with partners and stakeholders to ensure that Nigeria continues to be the desired location for gas-based investments. “In a changing global gas market, OKLNG inevitably has suffered a setback as a result of the exit but effort will be intensified to secure other willing investors. NNPC and the Federal Government remain committed to this project,’’ it assured.

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