NLNG Says No Hike In Cooking Gas Price

Nigerian Liquefied Natural Gas, NLNG, on Wednesday said there are no plans to increase the prices of cooking gas. Tony Attah, the CEO of  NLNG made the announcement during the company’s presentation of “2017 Facts and Figures on NLNG’’ in Lagos.

Attah, however, attributed the price hike by retailers  to acute infrastructural challenges for discharging cooking gas nationwide.

He said the only jetty available for discharging the product was in Lagos, adding that the additional costs of sending the product to different parts of the country was responsible for the hike in its price.

According to the Managing Director, it is ridiculous that what the NLNG produces in Bonny Island, we have to take to Lagos before bringing it back to Port Harcourt for usage.

Attah disclosed that the company was planning to rehabilitate the Calabar Jetty, in order to create another discharge point, apart from Lagos.

He said the company had worked with various International Oil Companies, IOCs, to reduce gas flaring from 65 per cent to less than 20 per cent by monetising the benefits.

He further said that the company had shipped 3,600 cargoes of Liquefied Natural Gas, LNG, to different parts of the world since its inception in 1995 to Dec. 2016.

“Nigeria is seen as the fastest developing country in terms of gas delivery.

“We receive gas from the offshore, clean it, store it and deliver to customers worldwide in liquid form.

“From inception till date, the company has reaped over 90billion dollars in revenue, 5.5 billion dollars in taxes and 13billion dollars in dividends for the Federal Government,’’ he said.

 

 

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