Senate wants Nigerian govt to revive Brass LNG project

The Nigerian Senate on Tuesday called on the Federal Government to kickstart the process that will see to the revival of the Brass Liquefied Natural Gas project, which it said had gulped about $1.2 billion as at of 2011.

The Senate made the resolution after debating a motion brought by Senator Degi-Eremienyo Biobarakuma representing Bayelsa East.

Biobarakuma, in the motion, said the moribund project, which is at early site work and maintenance stage, remained a Greenfield project.

According to him, the project was established to operate liquefied natural gas plant located in Brass Island, Bayelsa State, following an agreement signed in 2003 by four stakeholders.

Commending the Federal Government for the concept, design and commencement of work since 2004, Biobarakuma stressed the need for the Senate to invite the managements of the Nigerian National Petroleum Corporation and Brass LNG to brief the Senate Committee on Gas Resources on the extent of the implementation of the project.

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He also harpes on the need for the Federal Government to provide an enabling environment for reputable oil and gas companies to take over the 17 per cent shares each previously owned by Conoco Philips and Total.

He further noted that the NNPC had 49 per cent shares, while Conoco, Philips, Total and ENI International had 17 per cent shares each.

While contributing to the debate, members of the Red Chamber argued that the project, if reactivated, would attract both local and multi-national companies to Brass Island, adding that it would enhance social economic development and increase the foreign exchange earnings of the country.

The Senate further noted that about 10,000 jobs would be created the job is fully operational.

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