Nigeria to build second LNG plant by 2008: official
turkishpress.com
01-13-2005, 11h45
LAGOS (AFP) - Oil and gas-rich Nigeria plans to build a second multi-billion-dollar liquefied natural gas (LNG) plant in the southwestern state of Ondo, officials said.
The new plant is the second in the west African country of some 130 million people after the Nigeria Liquefied Natural Gas (LNG) at Bonny Island, Rivers State, began commercial production in October 1999.
A spokesman for the state-run Nigerian National Petroleum Corporation (NNPC) quoted the company's managing director Funso Kupolokun as saying on Wednesday that the new plant will be sited at Olokola in Ondo state.
He said the project will cost six billion dollars and will be financed by the NNPC, ChevronTexaco and and the British Gas West African Limited.
The spokesman said the plant, to be known as OK-LNG, will produce 30 metric tonnes of liquefied natural gas per annum, but that the project will be executed in three phases, with the first phase producing 10 metric tonnes by 2008.
He said a final decision to invest in the first phase of the project will be taken in 2006 to ascertain the financial involvement of the three partners, while other partners will be needed for the remaining phases.
He said the new plant is designed to meet Nigeria's target of 70 metric tonnes of LNG by 2009.
The first LNG -- the Nigeria Liquefied Natural Gas (LNG) -- is the single largest industrial investment in Africa, exporting LNG to buyers in Europe and America.
It is owned by the NNPC, Anglo-Dutch Shell Gas, TotalFinaElf and Italy's Agip under a joint venture partnership. |
