Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “forecasts,” “projects,” “believes,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “could,” “should,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on schedule,” “on track,” “goals,” “objectives,” “strategies,” “opportunities” and similar expressions are intended to identify such forward-looking statements. Also, according to the Department of Petroleum Resources (DPR), CNL supplies about 40% of Nigeria’s domestic gas consumption and the company is one of the highest contributors of high quality domestic gas in Nigeria.The opportunities include: Transitioning from an oil based economy to a more integrated oil and gas economy and end routine gas flaring; Deliberate exploration for non-associated gas to support the Nigeria Gas Master Plan, with a focus on high liquid yield non-associated gas resources to optimize the gas development project economics.. Other opportunities include: Removing constraints in the gas to power value chain to increase investor confidence, and Supporting and enabling competitive (“Willing Buyer – Willing Seller”) gas pricing model across the chain to enable stakeholders cover their costs and be guaranteed a return on investment.CNL’s Chairman/Managing Director explained that the company’s gas story began with the implementation of different phases of the Escravos Gas Project (EGP), with four phases of development over the years.
Also CNL’s Sonam Field development facility is designed to process natural gas through the EGP and is expected to deliver a total of 300 million cubic feet of natural gas per day to the domestic gas market and produce over 30,000 barrels of combined Liquefied Petroleum Gas (LPG) and condensate per dayChevron is also supportive of Nigeria’s leadership in West Africa through our partnership with the NNPC in developing and operating the West African Gas Pipeline (WAGP), a 678 km pipeline that supplies gas to Benin, Togo, and Ghana as part of a broader initiative to develop the energy sector in the region.Nigeria has a robust and rapidly evolving demand base. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. In February 2018, at the Nigerian International Petroleum Summit (NIPS) in Abuja, Chevron received an award as the greatest contributor of domestic gas in Nigeria.The strategy, said the Chairman/Managing Director, includes: ending routine gas flaring; boosting domestic supply diversifying and commercializing gas resources through Gas-Based Industries such as its Escravos Gas-to-Liquid (EGTL) Plant. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. He stated that the EGP gas gathering, and processing facilities placed CNL as one of the pioneers in creating a practical and economic solution for gas flaring in the Nigerian oil and gas industry. Jakarta, Indonesia, August 29, 2018 – The Chevron IndoAsia Business Unit (IBU) today named Kevin Lyon its Managing Director, effective October 1, 2018.. Lyon, 52, succeeds Chuck Taylor who will retire from Chevron in early 2019 after 38 years of distinguished service to pursue other opportunities.
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