FG Seeks New Investors, Pledges to Terminate Brass NLG – Blueprint Newspapers Limited

As the federal government seeks new investors to revive the stalled Brass liquefied natural gas (BLNG) project, Chief Minister of State for Petroleum Resources Timipre Sylva has urged the government to ensure that the abandoned project more than 17 years ago is completed.

Sylva gave the assurance when he inspected the project site with Greenville NLG management on Saturday in Twon Brass, Bayelsa State.

This is just when Greenville NLG has shown interest in investing in the BLNG.

According to the minister, the government wants to complete the project because of its multiple economic benefits to the nation.

Current investors in the Brass NLG project are Nigeria National Petroleum Company Limited (NNPC), Eni and Total.

The BNLG, which has 1-4 concept trains, with a projected annual capacity of 8.4 million metric tons, was launched in 2005 with the groundbreaking ceremony performed by former President Olusegun Obasanjo on May 14, 2007.

The minister said the federal government would give the project top priority because of its current policy on gas exploration in the country.

“You know the direction of the government with regard to gas. We want to use gas as a transition fuel and also use it to diversify our economy. You know with gas you can get so many things and I said we can really diversify our economy through gas,” he said.

While acknowledging the challenges associated with executing the project, Sylva noted that the government would do everything possible to encourage Greenville NLG to invest in the multi-billion dollar BNLG, noting that “we want this project to succeed this time and we will do our best. ensure that the Final Investment Decision (IDE) is taken as soon as possible.

“Greenville NLG is a major player in this industry and we know they are committed to getting this project off the ground. We will continue to discuss and offer the necessary incentives to get this project off the ground,” he added.

Praising President Muhammadu Buhari for creating a conducive environment for business in the country, he urged Western countries to step up investment in the country’s oil and gas sector, lamenting that the speed at which investment has been withdrawn from Nigeria in the past has hindered the growth of the sector.