Saved2Serve:
Your faith strong walahi. You fit endure epilepsy, i swear.

If I was in a position to advice the company I would say they should just take the 80. You know why? They retire people every year, recruit fresh graduates maybe one in seven years. For the purpose of sustainability they need a lot of people considering factors like possible attrition, sack, deaths etc in order to create organisational/generational balance. I assume majority of the people there have almost worked at least a decade of their professional life. They wouldn't just look at the ball from one angle, its a round one with a caveat.

Saved2Serve:
Your faith strong walahi. You fit endure epilepsy, i swear.

Hahahaha....yes ke

artmedia:
Boss, nothing oo. But this Q3/Q4 news is gradually trickling in and guess happenings around us can explain why this is possible. @ItsTime4me has said what I expect NLNG to do. What I feel is that very few people will resume now, and others sometime in that Q3/Q4. It will be totally callous to stay mute and keep everyone waiting till Q3. And as una don advise here tire, na to carry mind comot this matter - easier said than done though. I try really hard not to think of this process, but I have failed woefully at this, and I pray this uncertainty ends soon.

Shalom!

Let say worse case scenario they take between 37 and 40 for first batch right? Let us not forget no matter how bad business is, they still need fresh recruits for the purpose of business continuity.

Saved2Serve:
I am glad this Nlng adventure has added weight to our portmanteu box of stories we gonna tell our kids in future about our struggles in the country called Nigeria.

Iran is back! Congrats! This Nlng wait is becoming so adventorous and same time almost tragic for the suspense in it is enormous. In fact any offer made in this current situation, its an undilluted miracle and favor of the century. Bespoke Miracle! This is my take. #MindZeroing#GTmailcontent#whocantell#successmail#medical#bonnyencarta#

Iran coming back isn't any good news for Nigeria, infact more Bad news! Maybe soon our oil wells will become antiquities...we didn't do what was needed when we should have, maybe now our future generations may have to pay for our recklessness. It is time for us to think.

'Venezuela,an oil exporting nation has declared an economic emergency as oil price continue to fall;end of the oil era'- Shehu Sani.

Its been quite a while we heard from Oga @Collintos, how are you doing sir? God give us patience we need to wait o....

forkadict:


LoL. I haven't resumed yet. Altho, I opted for Jan resumption but was advised to chill till Feb say my blood too dey hot.

And quite a few of us were advised to. I wasn't the only one.

Hehehe... Good for February, enough time to prepare for very many years of sojourn on the Island. ...pray for us as we dont understand again ooo

forkadict:
WHAT THA HECK IN GOD'S NAME IS THIS?

How is the Island sir?

Delgado47:

"When we LIST expect"... Pun intended?

Dont worry before nlng calls us we go don make our dictionary. We have 'sauce', 'males' and now 'list'.... We are creative people..... Gbabe!

By the way. I also saw the linkedin notification that someone with a corporate profile viewed my page. Whatever that means only God knows, make mail sha drop.

Saved2Serve:
yes you guys are going to bonny but not the earlier perceived number. it was 80 before but not that number anymore. some gonna be waitlisted.. they cannot take all once anymore. that is all i know..as per time, yes!! a minute in our eyes is 500 days in the eyes of NLNG. i dont know the date bro... just continue your life, i don't think NLNG is holding us down against our wish to move forward with our lives but if anyone out of anxiety wishes to sit idle and wait it out, no yah!!!!!

Yes boss! Thank you for the info. it will be nice if we leave this phase, successful, unsuccessful, waitlisted ooo... I am sure we already have plans for these options, make the mail drop.

sp500:
its funny how people just believe anything now. Immediately I saw this, i already concluded it is a false alarm unless it is confirmed by those that are known here.

I pray...

.....it is well oooo, this is when we need all the sauces most.

Machini:


Harmattan.

Abi na reggae music dem dey feel, who knows?

cashme28:
I CAN FEEL IT...

It is too early to be feeling o

NanaF:


Please what are you feeling?

Ask them ooo

airsaylongcon:
We've been locked in arguments whether "This Week is...". Let me categorically tell you all that "This is is MOST DEFINITELY the year". Happy new year to the most dogged set of GTs I've come across. May God bless us all. EVERYONE!

Correct!!! Amen in Jesus's name!

Let me be the first to say HAPPY NEW YEAR to you in advance fam.....I love you all like kilode.....sorry one of my hobbies is meeting people and I have had to do that most part of my career. I look forward to meeting you in Bonny 'if God wills'.

vantage7:
http://sweetcrudereports.com/2015/12/29/nlng-train-7-fid-coming-soon-kachikwu/

30 December 2015, Sweetcrude, Abuja – The Nigerian Liquefied Natural Gas, NLNG, shareholders would be taking final investment decision, FID, for the NLNG Train 7 project soon, according to Minister of State for Petroleum, Dr. Ibe Kachikwu.

The FID by the shareholders – Nigerian National Petroleum Corporation, NNPC; Shell Gas BV, Total LNG Nigeria Limited and Eni International NA – has been dragging for years, casting doubt on the possibility of the project’s take off.

But, Kachikwu, who is also Group Managing Director of the NNPC, said the shareholders were now desirous of benefiting from the market dynamics and the economies of scale of the existing trains.

Said the minister: “We held a meeting two months ago and we are almost getting towards the FID. I think everybody is on block now that Train 7 needs to happen.

“Of course, you know that increasingly, the LNG market is getting very tight with the likes of the Qataris, the Saudi Arabia and Russia, dominating the market, and of course, the United States, which is now in a position to actually export”.

Good news! I hope this happens within the first 3-4 weeks of the new year. Too long overdue, but better late than never.

Good that the first question via #askBuhari on the Presidential Media Chat today was about NLNG. I hope more questions about NLNG will come. Wow more questions on NLNG!!!!!

okoope:
2 more days to Jan' 2016. Maybe January is the month.

You finally decided to talk abi?? Compliment of the season man!

Saved2Serve:
International shipments of LNG by container ship are generally price-indexed to crude oil, meaning that falling oil prices have led to a comparable drop in LNG prices.

The General Manager, Commercial of the Nigeria Liquefied Natural Gas (NLNG) Limited, Mr. Patrick Olinma, on Tuesday disclosed that the average six months intake of the company from the sale of LNG to its customers at various destination markets has dropped by 30 per cent because of the current volatility in the global prices of crude oil.


Olinma at the 2015 ‘commercial week’ of the NLNG in Abuja stated that the volatility in price of Brent crude, which NLNG indexes its price for LNG, has ensured that the percentage drop in revenue was recorded within its six months average benchmark calculation.
He said that while Brent had recorded an average of 40 per cent price drop in the ongoing price fluctuation, the average intake of NLNG might as well dwindle further if the situation persists.


“Normally, our prices are not Brent of the day but an average of six months Brent. So we are still carrying over some of the high Brent prices but even at that we have lost 30 per cent of our revenue as at the end of April compared to 2014.


"So, when a lot of people look at the Nigerian economy and they only talk about oil, in terms of revenue we generate over $10 billion on the average. So, when you look at the fact that we are losing about 30 per cent, that is a lot of reduction in revenue for the country,” Olinma stated while making his presentation on the current dip in energy prices.


According to him, “Basically, our export product is indexed to Brent and so it is a percentage of Brent. For example, you sell and get paid 10 per cent of Brent, and if Brent sells for $100, you get paid $10. If it goes down to $50, then it is $5; that is exactly what has happened to our product sale.”


Speaking further, he said: “Because of the fall in Brent which our pricing is indexed to and if it goes down, our price goes down, if it goes up, our price goes up, that movement is what we are talking about.


"Brent has fallen by 40 per cent today, it went below that before but is at $60 now. Last year and in 2013 on the average, it was above $100 but today it is $60, that is 40 per cent drop, our revenue has gone down by 30 per cent because we have what is called the lag.”
“Our Brent pricing is that when I say 10 per cent of Brent, it is 10 per cent of the average Brent price for six months and because of that we then have a lag effect that will still come from the high Brent because if you are pricing today, you go back to six months and take the average.


"That is why ours have fallen by 30 per cent while Brent is 40 per cent but if it continues, then we will get to a point where it is exactly the same and if it is going up again, we will take time to go up again because we will continue to take the six months average and after a while again, it will catch up again,” Olinma added.


Olinma’s disclosures were also buttressed by the Deputy Managing Director of NLNG, Isa Mohammed Inuwa, who said that in addition to the pricing factor, the substitution of NLG with other fossil fuel by consumers has equally contributed to the revenue decline.


“The most important thing to understand is that our prices are indexed to crude, at least a significant portion of our portfolio. The price of our gas is indexed to Brent and therefore if there is a fall in Brent price, it necessarily means that we will sell for less but then the other thing that is good to look at is the demand side.


"LNG is a substitute fuel and there is a switch between LNG and other hydrocarbon products and these are the two sources of drop in revenue; crude price and of course as a substitute because in other words, anybody who is using LNG can move into other sources of energy and so yes, we’ve been affected,” Inuwa said.


He also informed the audience that the company was already making good efforts with its renewal of expiring supply contracts with its customers.


He said: “As you know, LNG contracts are long term and you don’t build plants until you have supply contracts that are at least equivalent to the life of that assets. Our contracts are normally between 20 to 25 years.


"The first three trains on the LNG, their contracts will begin to expire as from 2020-2021 and ordinarily as a matter of practice, you have to start re-marketing well before the expiry of the existing contracts.


“We have already developed a re-marketing strategy and we have a fairly good idea of how we are going to re-market those trains, what the market conditions may likely be, what levers we are going to employ in terms of our re-marketing strategy. So we have a very clear idea of what we are going to do."

Hmmm....very insightful...it is well with us!

tk4rd:
Hehehehehehe... The only thing I missed is You.. I have always wanted to meet and know You... Any other thing is just as useless as trekking around my house and whistling away as time passes.

Na so u no come go bish....ladyf beware of love professors ooo #my2cent......hehehe

Saved2Serve:
My man! Do u know that 'humility' line shows up here whhen someone's sensibility and personality are kind of picked on. But if NLNG regret mails humbles anyone indeed, then such one never took my advice of carrying on with life and hustle as though NLNG never existed. If you are awaiting the NLNG feedbacks to humble you or humble ur colleagues, then you never see or know LIFE.

Don't remind me how my friend met his wicked supervisor at a job interview as a candidate after the industry recession threw us into the street earlier this year. Yes he got the job and the supervisor still dey house. Life is what happens to you when u are busy planning and hoping on other things. Spirit of sportmanship indeed is needed.

For those of us awaiting medicals, if u like reject the first job offer u will get next month unto say ee don be for u at bonny. Ur name go be sorry! U hv not signed anything oh! Keep hustling!

Yes and True. C'est la vie

Please let's forget about all this humility talk blablabla IMO its spiteful. All we need is the spirit of sportmanship. You get the job, I didn't, I congratulate you and move on, I get it, you didn't, I still congratulate you, cos Dangote and Otedola never worked in nlng, maybe you are just about to become the next big thing. Everybody that has made it this far is good. You may have been in your best shape that day and for one reason or another next guy was not just in his best. Let this stage just pass, there is so much to do. I won't brood over anything for more than 3 days good or bad. The steps of a righteous man are ordered by the Lord. I count it all joy! I want to say to a very large degree this thread was far better, we had rough times we came out more friendly.

Please let's forget about all this humility talk blablabla IMO its spiteful. All we need is the spirit of sportmanship. You get the job, I didn't, I congratulate you and move on, I get it, you didn't, I still congratulate you, cos Dangote and Otedola never worked in nlng, maybe you are just about to become the nest big thing. Everybody that has made it this far is good. You may have been in your best shape that day and for one reason or another next guy was not just in his best. Let this stage just pass, there is so much to do. I won't brood over anything for more than 3 days good or bad. The steps of a righteous man are ordered by the Lord. I count it all joy! I want to say to a very large degree this thread was far better, we had rough times we came out more friendly.

Saved2Serve:
basically, the headache is, what do we do with the successful excess? Put them on Wait list? For how long when we are not sure of anything concrete in nearest future? How do we deal with the SUCCESSFUL EXCESS? Do we raise the bar as per performance cut off to trim down to our desired size? We can't possibly change the rules in the middle of the game it does not portray our hallmarks and core values. They are facing a tough impasse. Pity them, pray for them to come out with decision that will be favorable to all. Engineering guys, I salute una. Your garri dey rise bembestically. Never give up......

The most sane thing is for them to release the dawn thing before mid January, make people carry their life do something. Psychologically, the investment you guys have put in can effortlessly fund train 7 and 8 if monetized.

Will it be safe to say Train 7 in 2017 is not even so sure given the present market circumstances?

That is why I wished decisions are reached on time so people can move ahead and map out their strategy for the new year. It may be more painful for some especially those who are yet to get a job, but with time it will soon pass.
I heard one major oil company laid off some huge numbers of workers recently, really hard times calling for desperate measures. It is well with us!

Saved2Serve:
In the commercial development of an LNG value chain, LNG suppliers first confirmed sales to the downstream buyers and then sign long-term contracts (typically 20–25 years) with strict terms and structures for gas pricing.

The trade of LNG is completed by signing an SPA (sale and purchase agreement) between a supplier and receiving terminal, and by signing a GSA (gas sale agreement) between a receiving terminal and end-users. Most of the contract terms used to be DES or ex ship, holding the seller responsible for the transport of the gas.

LNG purchasing agreements used to be for a long term with relatively little flexibility both in price and volume. If the annual contract quantity is confirmed, the buyer is obliged to take and pay for the product, or pay for it even if not taken, in what is referred to as the obligation of take-or-pay contract (TOP).

In the mid-1990s, LNG was a buyer's market. At the request of buyers, the SPAs began to adopt some flexibilities on volume and price. The buyers had more upward and downward flexibilities in TOP, and short-term SPAs less than 16 years came into effect. At the same time, alternative destinations for cargo and arbitrage were also allowed. By the turn of the 21st century, the market was again in favor of sellers.

However, sellers have become more sophisticated and are now proposing sharing of arbitrage opportunities and moving away from S-curve pricing. Since the advent of alternative destinations and arbitrage, such financial and sales guarantee in the face of such industry melt down was lost. Even if sellers like (NLNG) has a stake on arbitrage opportunities, it is NOT as lucrative as selling as an exclusive seller if possible as enshrined in a SPA.

In conclusion, SPAs are very flexible in terms of clauses covering the prices and volumes of LNG sold to accomodate industry trends in prices, thus there is no significant guarantee for NLNG with the current global drop in oil and gas prices. My 2cent!! ( No my wo bites of chicken lap)

This one don pass 2 cent, na 1million dollar response. Thank you for shedding more light as I felt the long term agreements were actually arbitrage opportunities against downward movement in prices. Good to hear from you as e be like say you abandon us small....just small....merry christmas!

tk4rd:
Analysts in the house, please, is this going to be a good sign or a bad sign for us.? Will it increase or decrease the number of new intakes.?
http://www.punchng.com/nigerias-gas-revenue-drops-by-50/

But wait o, I thought they sell based on competitive spot and the SPAs ranges from 20-25 years. I thought that should have been some form of guarantee against price flunctuations? Someone can help shed some light....

Feliz Navidad, Prosperos anos y Felicidad!
Merry Christmas friends! May the joy of the yuletide be for you and yours through Christ our Lord..Amen!

airsaylongcon:


The situation in Zim is so bad they are ready to use Naira or even Nigerian pounds. They are in coma in ICU. Even Liberian Dollar na forex for them

Lol@Nigerian pound. Things seem to have really gone bad for them. I really still wonder why they refuse to have a transition.