Nigeria’s Olokola plant to begin export in 2009

May 30, 2005 02:00 AM

Project Director of the Olokola Liquefied Natural Gas plant located between Ogun and Ondo states boundary, Dr Funmi Coker, has said process of exporting products from the plant would begin by the year 2009.
According to Coker, by the time the multi-million-naira plant begins full operation, each of the tankers at the plant would be loading between 60,000 and 70,000 tons of LNG.

Making the disclosure during a visit to the Ogun State Governor, Otunba Gbenga Daniel at the Oke-Igbehin, Government House, Abeokuta, Coker said final investment decision on the plant would be taken by the end of the first quarter of next year.
Accompanied by Chairman of Chevron, Mr Jay Pryor, Coker said the project had the capability to compete favourably with similar projects in the Atlantic Basin. According to him, management was determined to ensure early completion of the plant.

He said project completion schedule "has to do with the nature of the market," adding that efforts were being put in place to ensure that the project is the first to be delivered in the market. According to him, "There are specific windows that have to do with the down stream development and many people are trying to get into such windows."
"We will need a dry soil location. That is very critical because a lot of heavy structures will be put in place," he maintained.

Describing a floodless land as very important to the project, the director said British Gas and Chevron had carried out initial assessment of the coast of the country, while Shell had equally carried out another independent assessment of the same land.
"The two assessments," which were done separately, according to Coker, were carried out before the project was ever conceived.

Also speaking on the occasion, Chevron chairman Mr Pryor told the governor that the visit was meant to keep him abreast of the level of work on the plant.
Responding, Governor Daniel who commended the efforts of the firms financing the projects urged them to in involve the host communities.

Source: This Day
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