Nigeria Liquefied Natural Gas Limited (NLNG) plans to raise $15 billion from the International Capital Market to fund its Train 7 project, its Managing Director Tony Attah, has said. The Train 7 investment is capable of generating 18,000 jobs, he added. Attah told the Senate to approve the plan when on Tuesday, he received members of the Senate Committee on Gas led by Senator Bassey Albert Akpan paid an oversight visit to the NLNG facility in Bonny, Rivers State.
Attah said: “NLNG needs all the necessary support to be able to go to the market to raise 15 billion dollars for Train 7 investment which is capable of generating 18,000 jobs. This will enable Nigeria resolve most of the youth restiveness in the country; help the company to remain a global player in the natural gas market, and to help build a better Nigeria. We believe we can achieve all these with your help.”
He assured that Nigeria had sufficient proven and non -proven gas resources to the extent that the country was referred to in a global conference, as “that gas country that has some oil”, whereas the country actually classifies its economic strength in terms of oil and not gas, adding that proven and estimated gas reserves at 187 and 600 trillion cubic feet (TCF), are more than sufficient to serve domestic and commercial needs of the country. Read more