Nigeria LNG Limited (NLNG) today in Abuja took the Final Investment Decision (FID) for its Train 7 Project, which will increase its production by 35% and its competitiveness in the global LNG market.
This decision allows the expansion to increase the capacity of NLNG’s six-train plant from the extant 22 Million Tonnes Per Annum (MTPA) to 30 MTPA, with the award of contracts for the engineering, procurement and construction activities to follow the closure of bank and Export Credit Agency (ECA) financing, and the finalization of some key supporting commercial agreements expected in early 2020.
The actualization of the Train 7 Project comes as NLNG celebrates 30 years of its incorporation and 20 years of safe and reliable operations since exporting its first LNG cargo in 1999.
Brief Info About NLNG
NLNG is an incorporated Joint-Venture owned by four Shareholders, namely, the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation (49%), Shell Gas B.V. (25.6%), Total Gaz Electricite Holdings France (15%), and Eni International N.A. N.V. S.àr.l (10.4%).
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According to Tony Attah, MD/CEO of NLNG, “Train 7 is the crux of a growth agenda which will ensure the Company’s position as the 5th major supplier of global LNG is maintained, increasing value to its Shareholders and other stakeholders, as well as further reducing the gas that would otherwise have been flared, in fulfillment of its vision of ‘being a global company, helping to build a better Nigeria’”.
Other opportunities for local content include procurement, logistics, equipment leasing, insurance, hotels, office supplies, aviation, haulage, and many more.”
The Company further remarked that the Project upon completion will support the Federal Government’s drive to diversify its revenue portfolio and generate more revenue from Nigeria’s proven gas reserves of about 200 Trillion Cubic Feet (Tcf).
The construction period after FID will last approximately five years with first LNG rundown expected in 2024.
General Manager, External Relations
NLNG Train 7 – The Next Big Thing
Nigeria LNG Limited is making steady progress towards expansion of its 6-Train Plant with a 7th Train. This phase of the company’s strategic growth programme will on completion upscale NLNG’s annual production capacity from the current capacity of 22 mtpa to 30 mtpa. Final Investment Decision (FID) is expected to be taken after close out of final actions and achievement of all requisite conditions.