| Misuse of disadvantaged Nigerian Gas Two Billion Dollars |
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| Thursday, 25 February 2010 09:31 | |||
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Abuja
- Nigeria lost more than two billion dollars in revenue last year due
to sabotage of gas pipelines in the Niger Delta, the state company
Liquefied Natural Gas Company (NLNG) said Wednesday.
Losses were "due to the gas supply pipeline sabotage in the Niger Delta," NLNG managing director Chima Ibeneche said in an oil and gas conference that was held in Abuja. Between 2006 and last year, a group of armed militants seeking a greater share of oil and gas rich Niger Delta, took up arms against the oil and gas companies, most of kidnapped foreign oil workers and sabotaged pipelines and oil and gas facilities. Ibeneche says insecurity is one of the many challenges facing the gas sector of the country in previous years. "Key among these challenges is the funding, fiscal, trade and regulations as well as security and safety of personnel and assets," he said. He said the government recently gave amnesty to militants who lay down their arms, and has increased the security situation in the region. "However, much needs to be done to make a profit from ongoing amnesty program," he said. NLNG was established in 1989 to take advantage of natural gas resources of the country's large and produce liquefied natural gas for export. Company, which is located south of Bonny Island in Rivers State, has a total capacity of 22 million tons per year of liquefied natural gas (LNG). Jointly owned by state company Nigerian National Petroleum Corporation, Shell, Total of France and Eni of Italy, the company contributed nearly 11 percent of total world LNG capacity.
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