Immediate casualties of the planned amendment to the Nigeria Liquefied Natural Gas (NLNG) Act includes the development of Trains 7 and 8, which have a $25 billion Foreign Direct Investment (FDI) inflow, the Managing Director/Chief Executive Officer, Dr. Tony Attah, has said.
Tied to it is no fewer than 18,000 direct and indirect jobs, as $10 billion out of the expected $25 billion foreign inflow is primarily for the construction of the facility, while the expected cutback in funding following the country’s breach of assurance of guarantees will hamper its development, he noted.
Attah, who spoke in Lagos on Wednesday during the unveiling of “Facts and Figures on NLNG 2017” to newsmen, said the foregoing would equally scupper the country’s target of 30 million tonnes per annum (mtpa) of Liquefied Natural Gas (LNG), up from the present 22mtpa from the existing six trains.
Insisting that the company was being unjustifiably targeted in the amendment, which seeks three per cent of its annual budget as levy to the Niger Delta Development Commission (NDDC), the NLNG Deputy Managing Director, Mr. Sadeeq Mai-Bornu, argued that the stakeholders and upstream players already pay the same levy in their exploration activities.
Mai-Bornu wondered why the company should be targeted in the amendment while it buys gas from the upstream companies just like others that are exempt from the same levy.
Meanwhile, to deepen the company’s participation in cooking gas (Liquefied Petroleum Gas (LPG), Attah disclosed that the company has set a target of 350,000mt for 2017, up from the present 250mt per annum, and 150,000 in 2007.