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The federal government has again restated its backing to the management of the Brass LNG Limited in taking Final Investment Decision (FID) on the project this year to enable the company to fast-tracking commercial exploitation of the country's natural gas resources.
The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, gave the undertaking at the meeting with the board members of the Brass LNG Ltd in her office in Abuja.
She expressed the desire and commitment of federal government towards ensuring that the company successfully concludes the signing of the FID this year as scheduled.
The minister commended the management and board of the natural gas company for having engineered several changes in the outfit.
She promised that government would set up an in-house committee to look into some of the issues affecting the speedy development of the LNG project as soon as possible gas company, adding that government would also provide funding support in aid of the project.
"There is no doubt that Brass LNG Ltd is a very important and strategic project for the federal government. The President, Dr. Goodluck Jonathan, is particularly interested in seeing that the project is given every support that would enable it to succeed."
"We need this project to take-off. We need the FID to be done. Government cannot afford to fail in the project. We must have to make it work both for economic and political reasons", she said.
The Chairman of the board of Brass LNG Ltd, Dr. Jackson Gaius-Obaseki, said “how soon” the signing of FID on the project will be determined by the speed and success achieved in dealing with commercial issues.
According to him, the target of the management of the LNG Company is to have the FID taken on the gas project before the end of this year.
He said government has made it quite clear that it was ready to explore areas that would boost the economy.
Obaseki also said with the level of commitment being shown by the government, achieving the FID target this year won’t be problematic.
The federal government has again restated its backing to the management of the Brass LNG Limited in taking Final Investment Decision (FID) on the project this year to enable the company to fast-tracking commercial exploitation of the country's natural gas resources.
The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, gave the undertaking at the meeting with the board members of the Brass LNG Ltd in her office in Abuja.
She expressed the desire and commitment of federal government towards ensuring that the company successfully concludes the signing of the FID this year as scheduled.
The minister commended the management and board of the natural gas company for having engineered several changes in the outfit.
She promised that government would set up an in-house committee to look into some of the issues affecting the speedy development of the LNG project as soon as possible gas company, adding that government would also provide funding support in aid of the project.
"There is no doubt that Brass LNG Ltd is a very important and strategic project for the federal government. The President, Dr. Goodluck Jonathan, is particularly interested in seeing that the project is given every support that would enable it to succeed."
"We need this project to take-off. We need the FID to be done. Government cannot afford to fail in the project. We must have to make it work both for economic and political reasons", she said.
The Chairman of the board of Brass LNG Ltd, Dr. Jackson Gaius-Obaseki, said “how soon” the signing of FID on the project will be determined by the speed and success achieved in dealing with commercial issues.
According to him, the target of the management of the LNG Company is to have the FID taken on the gas project before the end of this year.
He said government has made it quite clear that it was ready to explore areas that would boost the economy.
Obaseki also said with the level of commitment being shown by the government, achieving the FID target this year won’t be problematic.
