NLNG Business Model Should Be Replicated In Power, Others – DMD

By SoundBite News Admin on February 26, 2018

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NLNG Ship

The Deputy Managing Director of Nigeria LNG Limited (NLNG), Sadeeq Mai-Bornu, while speaking at the Nigeria International Petroleum Summit said the NLNG business model needs to be replicated in order to generate opportunities for the power and gas sectors in the country, Independent reports.

He said; “We signed a 20-year contract for the supply of molecules and we can actually go to the bank and get the funding we need. When NLNG was set up, it had guarantees and incentives that safeguarded investments and returns. There was also the sanctity of contracts. That is what has helped NLNG. This model needs to be developed in the upstream and downstream.”

“Let’s bring this closer home. The LPG market is a deregulated space. NLNG supplies about 50% of the LPG in the country. We see opportunities to do more. People think LPG is just for cooking. The more important use of LPG is as an industrial fuel.”

“LPG has already been used for power in the developed world and even in Nigeria. There are vehicles that run on LPG. I think if we have the incentives and guarantees, and also the sanctity of contract, NLNG success story can be replicated in other sectors.”

 

Posted on March, 30 2018

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