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Chevron, Shell’s Withdrawal From OKLNG Will Not Affect Gas Agenda

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Abuja — The Nigerian National Petroleum Corporation (NNPC) has allayed the fears that the recent decision of Shell and Chevron Nigeria Limited to withdraw from the Olokola Liquefied Natural Gas Project (OKLNG), may derail the President Goodluck Jonathan’s Gas Revolution Agenda launched in March 2011.

In a statement by the acting Group General Manager, Group Public Affairs Division of the NNPC, Tumini Green, the corporation stated that the gas revolution agenda was not only intact but had since taken off with a significant progress in gas supply for power generation and industrial usage.

“The gas revolution agenda which is an integral part of the gas master plan cannot be derailed just like that. NNPC can confirm that the exit of Shell and Chevron will not impact on Mr. President’s gas revolution agenda. In fact, very good progress is being made with domestic gas supply which has reached the highest level of 1500mmcf/d from about 500mmcf/d about three years ago,” it said.

The corporation noted that over 70 per cent of this gas was being directed to the power sector pursuant of the gas revolution agenda. Green explained that the gas based industrialisation agenda of Mr. President planned for Ogidigben in Delta State had teed-off with site data gathering activities, noting that major new heavy gas based industries such as fertilizer, petrochemicals, among others. would come on board to create the much needed jobs.

“All these are very much under way and unaffected by the recent exit of Shell and Chevron from OKLNG. Similarly the Brass LNG project is unaffected by this exit as shareholders of the Brass LNG are different,” the statement stated.

It noted that in line with the transformation agenda of the federal government, the NNPC was determined to continue to work with partners and stakeholders to ensure that Nigeria continues to be the desired location for gas based investments.

“In a changing global gas market, OKLNG inevitably has suffered a setback as a result of the exit but effort will be intensified to secure other willing investors. NNPC and the federal government remain committed to this project,” she said.

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