Nigeria LNG Limited (NLNG), has won the Gas Company of Year award, based on recognition of its pivotal role in reducing gas flares; complying fully with tax laws; and impacting on the lives of Nigerians through its Corporate Social Responsibility (CSR).
These were the basis for the award given at the 2016 BusinessDay Oil and Gas innovation awards.
In a ceremony in Lagos, BusinessDay newspaper, in conjunction with Oval Energy Limited, stated that after an extensive research by BusinessDay Research and Intelligence Unit, using different parameters on all companies involved in the upstream and downstream sectors of the oil and gas industry, NLNG won the Gas Company of the Year category.
Specifically, the newspaper said “NLNG won in the Gas Company of the Year category because of its role in harnessing of Nigeria gas resources to produce liquefied natural gas which resulted in generated revenue of about $85 billion in the last 15 years; tax compliance which translated to the payment of $1.6 billion; payment of $30 billion in dividends to its shareholders; and the company’s 2016 CSR projects among others.
Receiving the award on behalf of the Managing Director and Chief Executive Officer of NLNG, the General Manager, External Relations of the company, Dr. Kudo Eresia-Eke, said “We are very delighted to receive the Gas Company of the Year Award. NLNG is Nigeria’s success story.
“We believe in standards and in excellence. Our resolve for excellence reflects in our business and interaction with our stakeholders, our operations, our CSR projects and in fulfilling our vision of helping to build a better Nigeria.
“Our hope our success and our being as Nigeria LNG, would be a source of inspiration to companies in particular and our nation in general.” he said.
This year’s awards is the second edition in the series which aims at rewarding and recognising institutions, organisations in the oil and gas, for excellence in various aspects of their operation covering companies in the entire value chain of the industry in Nigeria, from the major to the marginal players/service companies.
Nigeria LNG Limited is the most significant arrow-head of the federal government’s quest to eliminate gas flaring and derive value from the country’s 187 trillion cubic feet of proven gas reserves.
It is owned by four shareholders, namely, the Federal Government of Nigeria, represented by the Nigerian National Petroleum Corporation, NNPC (49%), Shell Gas BV, SGBV, (25.6%), Total LNG Nigeria Limited (15%), and Eni International (10.4%), and is driven by a vision to build a better Nigeria.