Monday, 25 February 2013

Brass LNG on track for FID - Gaius-Obaseki

Dr Jackson Gaius-Obaseki, chairman of Nigeria’s multi-billion naira Brass Liquefied Natiural Gas project has expressed hope for a Final Investment Decision, FID, on the project next year.
The former group managing director of the Nigerian National Petroleum Corporation, NNPC, said the project would likely witness FID before next year’s Christmas.
“Let it be God’s will that this will be the last Christmas before Final Investment Decision”, he said at the company’s 2012 end-of-year luncheon.
At the event which was organised to appreciate the contributions of employees to the success of the company, Gaius-Obaseki praised the workers for their commitment.
“No matter how difficult the storm is, we must make it. There are no obstacles, only challenges to be overcome,” he told the workers.
Brass LNG Limited was incorporated in 2003 to manage the the two-train, 10-million metric-ton-per-annum Brass LNG project by the project shareholders – NNPC, Eni-Agip, ConocoPhillips and Total.
It has since 2009 completed preparatory work towards the eventual construction of the LNG plant at the project site in Brass Island, Bayelsa State.
The preparatory work included opening up of roads, preparing the base for the tanks and building of a workers’ camp.
The company is currently analysing the contract packages preparatory to award, but this will be after the shareholders must have committed themselves to the FID.
ConocoPhillips has earlier this year pulled out of the project, leaving the other sahreholders trying to work out how to accommodate the vacuum left by the American company.
Culled from the Sweetcrude Reports, Saturday, December 15th, 2012. 

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