The Senate on Tuesday urged the federal government to revive the Liquefied Natural Gas plant in Brass Island, Bayelsa state.
In a motion sponsored by Senator Degi-Eremienyo Biobarakuma (PDP, Bayelsa East), he said the project was conceived by the government to convert the huge gas resources being wasted through gas flaring.
He said the idea behind the LNG project was to eliminate negative environmental impact and to essentially generate revenue for faster economic growth and development of the country.
Debating further, Biobarakuma said the Brass LNG project will attract both local and multinational companies to Brass Island which will enhance socio-economic development and increase the foreign exchange earnings of the country.
“When fully operational, Brass LNG will create about 1,000 jobs” he said.
He noted that the Brass LNG is a green field project established to operate Liquefied Natural Gas plant located in Brass Island following agreement signed in 2003 by four shareholders.
“The shareholders are Nigerian National Petroleum Corporation (NNPC) with 49% shares, while Conoco Philips, Total and ENI international had 17% share each,” he said.
He recalled that the execution of the project had gulped the sum of about $1.2 billion as at 2011 covering the early site works and maintenance, saying “Since then, the project had remained moribund.”
He commended the federal government for the capitalization, design and commencement of the work in 2004, while calling for the invitation of NNPC and Brass LNG to brief the Senate committee on Gas Resources on the extent of the implementation of the project.
He also urged the federal government to create enabling environment for reputable oil and gas companies to take over the 17% shares each previously owned by Conoco Philips, ENI and Total.
Responding to the prayers, the Senate President, Ahmed Ibrahim Lawan referred the matter to the Committee on Gas Resources and directed them to report back to the Senate within four weeks.