Non-passage of PIB delays Nigeria LNG train 7 project
“The delay in the passage of the Petroleum Industry Bill, PIB, is one of the major hindrances to the progress of the project.”
The long delay in the passage into law of the draft Petroleum Industry Bill, PIB, by the National Assembly is posing serious setback to the construction of Train 7 project of the Nigerian Liquefied Natural Gas, NLNG, an official has said. The Managing Director, NLNG, Babs Omotowa, said at the launching of the NLNG “Facts and Figures”, in Lagos, that the company was still fully committed to the completion of the project despite the setback.
As a demonstration of the commitment, Mr. Omotowa said the company was currently carrying out some pre-final investment decision, FID, works expected to be completed soon.
“The delay in the passage of the Petroleum Industry Bill, PIB, is one of the major hindrances to the progress of the project,” he said.
According to him, the gas suppliers consider the legislative framework in the PIB to make their business decisions.
He said if the law was not passed it was also posing a major financial challenge to buyers of Nigeria’s natural gas abroad who would want issues bordering on gas prices and sales/purchase terms sorted out before making final commitments to buy.