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The Nigeria National Petroleum Corporation and LNG Japan Corporation have began discussion on strategic collaboration on the Brass Liquefied Natural Gas (BLNG).

This followed the visit of the LNG Japan Corporation team led by its President and Chief Executive Officer, Yasunori Takagi, to the corporation in Abuja.

The collaboration would provide the world’s most competitive finance and gas marketing opportunity in Asia, the petroleum managing director, Austen Oniwon, said on Thursday.

“This is part of efforts to fast track the exploration of the abundant gas resources in the country to increase Federal Government’s revenue from the oil and gas sector,” he said.

Mr Oniwon expressed the willingness and readiness of the NNPC to collaborate with LNG Japan Corporation in the value chain.

He also urged LNG Japan to expedite action as the Federal Government had given the NNPC a timeline for the Final Investment Decision (FID) on the LNG projects.

“Japan LNG Corporation is welcome into Nigeria and NNPC as a major stakeholder in all the LNG projects in the country, is willing to partner with you and do business that will be of mutual interest to both parties,” Mr Oniwon said.

He said when the Petroleum Industry Bill currently before the National Assembly is passed into law, the Corporation will transmute into a ring fenced organisation that will play in the international hydrocarbon market like other National Oil Companies.

He urged Japan LNG Corporation to serve as a vehicle that will help link the NNPC to other gas markets in the Asian Continent noting that there was room for expansion up to train 7.
Mr Oniwon congratulated the Japanese chief executive on his appointment and encouraged Mr Yasunori to brace for the challenges in the hydrocarbon industry.

Also speaking, the Group Executive Director (Gas and Power), Voka Mukoro, said NNPC is prepared to ensure the smooth take off of the transaction.

He called on LNG Japan to be frank and open as the business framework was being developed for the mutual benefit of Nigeria and Japan.
Earlier, Yasunori Takagi had lauded NNPC for selecting LNG Japan Corporation as a strategic investor.