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The Sunday Tribune: OKLNG is strategic to Nigeria’s economy – Ogun Governor, Shell MD

04.11.2007

THE multibillion-dollar OKLNG project has been described as a strategic investment that will enable the country to monetize its gas, reduce flaring and make gas contribute to the national income, Mr. Basil Omiyi, Managing Director/Country Chairman of Shell Companies in Nigeria, SCiN, stated this in Abeokuta, Wednesday October 30, during a courtesy call on the Governor of Ogun State, Otunba Gbenga Daniel.

He said his company partnered with other top players in the oil industry on the project because of its belief in Nigeria as a long-term investment destination. “Shell has played a pivotal role in the oil and gas industry in Nigeria, we are happy to pioneer the OKLNG project which, will no doubt, contribute immensely to the growth of the country’s national income,” he told his host. He said Ogun State as the host community will benefit more as investors will now see the OK Free Trade Zone, where the OKLNG project is situated, as an investment destination of choice.

Welcoming his guest, Otunba Daniel described Shell and Nigeria as siamese twins whose fate and fortune are inter-twined. He praised Shell for showing faith in the Nigeria’s Economy saying that his government was not surprised that the company was, again, playing a pivotal role in the OKLNG project.

He described the OKLNG project as an investment of profound economic significance for Nigeria and Omiyi that the project financiers and sponsors could count on the support of the people and government of Ogun State.

He also said his government had constantly engaged the people of the host communities in the development of the Free Trade Zone, which has enabled them to buy into the project. “Community relations’ activities are being strengthened with the establishment of a technical training institute in Oni, in Ogun Waterside local government, where indigenes of the area will be trained to take advantage of emerging job opportunities, Ogun State is ready to partner with promoters of the project in order to achieve mutual objective.”

The OKLNG Project is a joint investment of NNPC, Chevron OKLNG Holdings Ltd., Shell Gas & Power Developments B.V. and BG International Ltd. for the development of a natural gas liquefaction facility and marine terminal in the Olokola Free Trade Zone to process gas supplied from the sponsors’ portfolio of onshore and offshore fields in Nigeria.

OKLNG is an important project for Nigeria. It will increase revenues from gas, whilst also developing new gas infrastructure and reducing flaring. The project has a commitment to optimize Nigerian labor and content. It will also attract major foreign investment and give impetus to the development of the local economy. Economic analysts see the OKLNG as a further expression of confidence in Nigeria as a place to do business

http://www.tribune.com.ng/04112007/news/news15.html

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