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Tuesday 13th November 2018,
Hope for Nigeria

15 years on, FG seeks revival of brass, Olokola gas projects

About 15 years after the conception of Brass and Olokola Liquefied Natural Gas projects, the Federal Government, at the weekend, said revival of the projects were being considered to achieve projected revenue objectives and create over 5, 000 jobs.

Minister of State for Petroleum Resources, Ibe Kachikwu, during a visit to the NLNG plant complex in Bonny Island, said discussion with stakeholders was underway, to create leeway that would enable the company invest and drive the projects back to life.

Initiated in 2003, development of the Brass LNG, has remained elusive as foreign investors in the proposed investment backed out. Similarly, the Olokola LNG, which came on stream in 2005 has seen all investors pulled out and currently at the verge of being scrapped.

Kachikwu also dispelled fear that the country’s coming general election could affect investment in the country, particularly the Train 7 project of the NLNG.According to him, the Federal Government would provide the much-needed support to ensure the company, which had always remained insulated from politics, achieve its goal.

Kachikwu said the revival of the two projects would create over 5,000 jobs.Meanwhile, Managing Director/Chief Executive Officer of the NLNG, Tony Attah, NLNG said that as part of its 30-year initiative, the company was targeting an investment of N3b yearly in Bonny Kingdom as a measure of driving development that would transform the island into a tourist destination.

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