Fed Govt eyes $2b yearly from Escravos gas to liquid project


By John Ofikhenua, Abuja

 

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mele Kyari yesterday  said the Escravos Gas-to-Liquid (EGTL) project is capable of fetching the Federal Government $2billion yearly.

NNPC and the Chevron Nigeria Limited (CNL) have executed agreements on the multi-billion dollars EGTL project.

Speaking at a sign-off meeting in Abuja, Kyari said CNL would boost the domestic gas market with 400million standard cubic feet per day (MMScfp/d) gas supply, equivalent to 26 per cent of total domestic gas supply in the country.

Kyari, who described the EGTL plant as “a cornerstone of the energy ecosystem of Nigeria” in a statement, said it had the potential to yield $2billion yearly into the coffers of the Federal Government.

 

He acknowledged the roles played by President Muhammadu Buhari and the Chairman, Senate Committee on Gas, Sen. Bassey Akpan, which he noted had culminated into the execution of the agreements, assuring…



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