FG moves to Revive Brass LNG Project with New Investor

18 Apr FG moves to Revive Brass LNG Project with New Investor

The federal government says it is ready to revive the over $22 billion abandoned Brass Liquefied Natural Gas (BLNG) in Bayelsa.

Speaking during an inspection of the project site, in Twon Brass, Bayelsa State, with management of Greenville LNG, an interested investor in the project, Minister of State, Petroleum,  Timipre Sylva, said the government was desirous of completing the project because of the manifold economic benefits it will bring to the nation.

The Brass LNG, which has trains 1-4 concept, with an annual projected capacity of 8.4 million metric tons, was initiated in 2005 with the ground-breaking ceremony performed by former President Olusegun Obasanjo on May 14, 2007.

For over 17 years ago, the project has failed to take a foothold, with a key investor, Conoco Philips eventually exiting the deal that would have led to the take-off of the project which was said to have consumed about $1.2bn as of 2011.

A statement by the minister’s spokesman, Horatius Egua, explained that Sylva was joined on the tour of the project site by the Chairman and Managing Director of Greenville LNG, Mr Eddy Van Den Broeke and Ritu Sahajwalla

It quoted the minister as saying that the federal government would give the project top priority because of its present policy thrust in gas exploration in the country.