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| GMD NNPC, Engr. Andrew Yakubu |
Group Managing Director of NNPC, Engineer Andreww Yakubu, stated that two Japanese Corporations (LNG Japan ans Itochu) have been selected as strategic investors to NNPC in the Brass LNG project, they are not only equity shareholders, but also joint off-taker of LNG volumes.
At the maiden edition of the LNG Producers/Consumers Conference organised by the Japanese government on Wednesday in Tokyo to create a mutually beneficial forum for the world's major producers, Nigeria's immense gas resources too global attention, while addressing the forum, the GMD of NNPC, Engr. Andrew Yakubu stated that though Nigeria seem to have entered the LNG market late, it has overtime emerged a reliable supplier in the liquefied natural gas market globally.
Disclosing that the country holds record for the fastest growing LNG production capacity in the world, while presenting a paper titled: "Prospects of LNG Supply from Nigeria and NNPC LNG Sales Strategy", he also stated the country's commitment to supporting Japan's aspiration on energy security, to realize this aspiration, two Japanese Corporations (LNG Japan and Itochu) have been selected as strategic investors to NNPC in the Brass LNG project, as joint off-taker of the LNG volumes and not only as equity stake holders.
Stating that if the partnership becomes a success, it will improve Nigeria's contribution of LNG supply to Japan for mutual benefit of both countries.
The two Japanese companies are to be supported in terms of finance by the Japanese Bank for International Cooperation, JBIC, to ensure the attainment of this goal from a modest two train base LNG project of 8 million tons per annum (mtpa) as of 1999 to its current 22 mpta capacity for six operating train.
(Edited by: Blueblock)
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