The Nigeria LNG Limited (NLNG) has so far, spent about 200 million dollars on Corporate Social Responsibility (CSR) programmes to help build the nation, according to Mr Tony Attah, the Managing Director of the company.
Speaking at the 2021 Society of Petroleum Engineers (SPE) Nigeria Annual International Conference and Exhibition (NAICE) on Wednesday in Lagos, Attah who spoke on: ‘The Future of Energy: Integrating Public Health into Climate Change Policy and Planning’ noted that world population would rise to 10 billion by 2040, which would lead to a 30 per cent increase in global energy demand.
He said the push for cleaner sources of energy was due to the impact of climate change, which increased deaths from air pollution and diseases such as malaria and diarrhoea.
According to him, the NLNG has continued to steer Nigeria toward energy transition, through the development of its abundant gas resources.
He said apart from spending 200 million dollars on CSR activities, the company had also generated 100 billion dollars revenue for the Federal Government and 6.5 billion dollars in taxes.
Attah said the NLNG also paid 13 billion dollars to the Nigerian National Petroleum Corporation (NNPC) for feed-gas purchase and 16 billion dollars in dividends to the Federal Government.
He emphasised that Nigeria must raise her game on gas, as the global energy transition continued, adding that this window of opportunity would not last forever.
Attah said the Decade of Gas initiative of the Federal Government was a welcomed development which must be sustained by enacting right policies, increasing gas reserves and developing gas infrastructure.
He said Dubai used Oil and Qatar used gas to transform their economies, stressing that Nigeria had both resources and should emulate the countries.
Attah said there was need to address the challenges of gas pricing, supply economics and customers’ affordability to deepen gas utilisation in Nigeria.
He added that one of the critical gas infrastructure was the NLNG Train 7 Project, which would ramp up NLNG’s production capacity by 35 per cent from 22 million MTPA to around 30 million MTPA.
He said the project would also create about 12,000 new jobs and an additional 40,000 indirect jobs.