The project gulped 1.2 billion dollars yet moribund
BY OBUTE JAMES
The Bayelsa Deputy Governor elect who is currently representing Bayelsa East Senatorial District in the Senate, Senator Degi-Eremienyo W. Biobarakuma said that the nearly dead state of Brass LNG project which kicked off in May 2007 informed his decision to come up with a motion in order address the issue.
Speaking to journalists in National Assembly, Biobarakuma said that the execution of the Brass LNG Project in Bayelsa State had gulped about 1.2 billion US dollars as at 2011 and since then the project has remained moribund.
He explained that Brass LNG is a green field project established to operate Liquified Natural Gas Plant located in Brass Island, Bayelsa State following an agreement signed in 2003 by four shareholders including Nigerian National Petroleum Corporation, NNPC, with 49％ shares, while Conoco Philips, Total and ENI International had 17％ shares each.
“The idea behind the LNG project wadto eliminate negative environmental impact and to essentially generate revenue for faster economic growth and development.
“Former President Olusegun Obasanjo in May 2007 performed the groundbreaking ceremony for the take-off of the Brass LNG project after award of contract for the Front-End Engineering Design, FEED to Bachtel Corporation in late 2004 for two LNG trains with a total capacity of 10 million metric tune per year.
“Activities of Brass LNG project will attract both local and multi-national 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 10,000 jobs,” he said.
He said it is in view of this that “the Senate resolved to invite the management of NNPC and Brass LNG to brief the Senate Committee on Gas Resources on the extent of the implementation of the projects;
“Urge 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 and total and urge FG to take necessary steps to ensure the revival of the Brass LNG.”