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Development is
based more on external factors, specifically on the activities of
the multi-national oil and gas companies; where Finima continues to
attract development projects of international importance, and
remains a key feature of national economic policy and emerging as
perhaps the most important single industrial enclave in the country.
The Bonny Utilities Company generates and supplies electricity to
Finima community and the Bonny urban area which are the key urban settlements in the
region. Electricity is generated by the SPDC from a gas turbine
dedicated to the project. However, the distribution system is
managed by an expatriate staff of the NLNG.
The export market for Nigerian natural gas started in 1999 after the
construction of the LNG plant, located in Finima. It was built
primarily on reclaimed land. Developed to be one of the world’s
major exporters of LNG, the plant site has a capacity to accommodate
more than eight Trains. The base project with two trains was
completed in August 1999. An expansion project with one Train and
associated LPG facilities was finished in November 2002. Development
work on the fourth and fifth Trains started in 2003 and was
completed in 2005. The sixth Train is almost completed while the
seventh Train will soon commence. Nigeria LNG currently provides 7
per cent of the world’s LNG requirements. This figure has risen to 13 per cent when the fourth
and fifth trains came on stream, making the country the world’s
third largest exporter of LNG.
Presently arrangements have reached an advance
stage to build a 7th as earlier mentioned and possibly 8th Trains which will further
boost Nigeria's gas exports and contribute to her foreign earnings.
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