Nigeria LNG Ltd. has inched closer to signing a final investment decision (FID) for the construction of its seventh train, with the signing of a letter of intent (LOI) for the engineering, procurement and construction (EPC) of the project with a preferred bidder.
The winning bidder of the turnkey multi-billion project is a consortium known as SCD (Saipem Chiyoda and Daewoo).
Speaking during the ceremony, Managing Director of NLNG, Tony Attah described the signing as a milestone leading the company closer to FID on Train 7. He said Train 7 will increase the production capacity of the company by 35%, attract over US$10 Billion foreign direct investment to Nigeria and create about 10 000 jobs.
Deputy Managing Director, Sadeeq Mai-Bornu assured that with Train 7, “NLNG will maintain Nigeria's place in global gas market and continue to support our domestic LPG consumption through our commitment of 350 million t of LPG to the local market."
The Chairman of the Board of Directors, Chief Dr O R LongJohn assured SCD consortium, the preferred bidder, of the unalloyed commitment of NLNG Board of Directors and the four shareholders towards achieving Train 7 seamlessly “as we live our vision of helping to build a better Nigeria.”
The Federal Government represented by the Permanent Secretary, Ministry of Petroleum Resources assured of support for the speedy implementation of the Train 7 project, while the four shareholders – NNPC, Shell, Total and ENI – took turns to assure of shareholders' commitment to ensure that FID for Train 7 is signed by 31 October this year.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/12092019/nigeria-lng-closing-in-on-train-7-fid/