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Revive $1.2bn Brass LNG project, Senate tells FG

Revive $1.2bn Brass LNG project, Senate tells FG

Floor of the senate

The Senate on Tuesday asked the Federal Government to start the process of reviving the Brass Liquefied Natural Gas project.

It said the project had gulped about $1.2bn as of 2011.

The Senate took the decision after a debate on a motion sponsored by Senator Degi- Eremienyo Biobarakuma representing Bayelsa East.

The lawmaker said the moribund project, which is at early site work and maintenance stage, remained a Greenfield project.

He said it was established to operate liquefied natural gas plant located in Brass Island, Bayelsa State, following an agreement signed in 2003 by four stakeholders.

Biobarakuma commended the Federal Government for the concept, design and commencement of work since 2004.

He 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.

The legislator stressed the need for the Federal Government to create 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 recalled that the NNPC had 49 per cent shares, while Conoco, Philips, Total and ENI International had 17 per cent shares each.

The lawmakers, in their various contributions, argued that the project if reactivated would attract both local and multi-national companies to Brass Island.

They said it would enhance social economic development and increase the foreign exchange earnings of the country.

They added that when fully operational, Brass LNG would create about 10,000 jobs.

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