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Senate Summons NNPC, LNG Over Brass Project

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Photo: NNPC Boss, Mele Kolo Kyari 

(AFRICAN EXAMINER) – The Senate on Tuesday invited the management of the Nigerian National Petroleum Corporation (NNPC) and the Brass LNG to brief the ommittee on Gas on the extent of implementation of the LNG project in Brass Island, Bayelsa State.

The decision was reached sequel to the consideration of a motion sponsored by Senator Biobarakuma Degi-Eremienyo (APC, Bayelsa East).

The upper chamber, in its resolutions, also urged the Federal Government to create an enabling environment for reputable oil and gas companies to take over seventeen percent shares each previously owned by Conoco Philips and Total.

Senator Degi-Eremienyo, in his motion, recalled that the Brass LNG is a green field project established to operate Liquefied Natural Gas Plant located in Brass Island, following an agreement signed in 2003 by NNPC with forty-nine percent shares; and Conoco Philips, Total and ENI International, with seventeen percent shares each.

He added that the Brass LNG project had suffered several setbacks occasioning unnecessary delays in the signing of her Final Investment Decision (FID) which led to the di-investment of two shareholders, Conoco Philips and Total.

According to him, the moribund state of the Brass LNG project could rightly be described as “consciously organised sabotage by several stakeholders including NNPC through diversion of funds budgeted and provided for the execution of the project.”

 


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Short URL: https://www.africanexaminer.com/?p=50019

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