Asset from liquidating partnerships

29-Mar-2018 14:17

“The federal government does not own the entire gas company, and will certainly not sell-off its entire shares. NNPC The Nigerian National Petroleum Corporation (NNPC) is the state-owned national oil company with business interests in the upstream and downstream sectors of the oil and gas industry.Government is open to selling 5 per cent, or thereabout of its 49 per cent shareholding. In the upstream industry, NNPC operates seven joint venture partnerships, with Shell ( per cent) and per cent with Mobil, Chevron, Total, Agip, Elf and Panocean.Nigeria Liquefied Natural Gas Limited The six trains facility is reputed to possess the capacity to produce 22 million tonnes per annum (MPTA) of liquefied natural gas (LNG), and 5 MPTA of natural gas liquids (NGLs) from 3.5 billion standard cubic feet per day (BCF/D) of natural gas feedstock.It is owned by four shareholders, namely: Nigeria, represented by Nigerian National Petroleum Corporation (49 per cent), Shell (25.6 per cent), Total LNG Nigeria Ltd (15 per cent) and Eni (10.4 per cent).The Minister of State for Aviation, Hadi Sirika, has said the four major airports: Lagos, Kano, Abuja, and Port Harcourt, would definitely be concessioned.“Government does not have money to put into these businesses and we don’t want to sell these facilities either; so that is why we are concessioning them because it is the only way to go,” he said. West African Gas Pipeline (WAGP) The 678 kilometres West African Gas Pipeline (WAGP) is a project initiated by some oil and gas operators with the NNPC to convey 800 million standard cubic feet per day gas from Escravos area in Delta state to some West African countries, including Ghana, Benin Republic and Togo.

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Although the government has not said the presidential air fleet was one of areas being proposed for sale, some concerned Nigerians have urged government to take advantage of the opportunity offered by the planned sale of national asset to dispose of some the ten aircraft in the fleet.“Some of the intended sales could be in form of time-bound leases, advance renewal payments on leasing licenses and concessioning, which would attract buoyant signature fees,” the official said.Below are some of the asset that may be affected should the federal government finally decide on asset sale.While the national debate on the sale of asset to raise funds to help Nigeria out of recession continues, the federal government last week said it has not taken a firm decision on the matter.However, despite the government’s seeming indecision, a top official of the presidency had told PREMIUM TIMES about the administration’s intentions.

Although the government has not said the presidential air fleet was one of areas being proposed for sale, some concerned Nigerians have urged government to take advantage of the opportunity offered by the planned sale of national asset to dispose of some the ten aircraft in the fleet.“Some of the intended sales could be in form of time-bound leases, advance renewal payments on leasing licenses and concessioning, which would attract buoyant signature fees,” the official said.Below are some of the asset that may be affected should the federal government finally decide on asset sale.While the national debate on the sale of asset to raise funds to help Nigeria out of recession continues, the federal government last week said it has not taken a firm decision on the matter.However, despite the government’s seeming indecision, a top official of the presidency had told PREMIUM TIMES about the administration’s intentions.The NLNG-Six project consists of Train 6, additional condensate processing and additional LPG storage and Jetty facilities making up Train 7, under construction.