Nigeria LNG Ltd. (NLNG) has awarded Saipem, in joint venture with Daewoo E&C Co. Ltd and Chiyoda Corp. (SCD JV), contracts for the engineering, procurement and construction of the Nigeria LNG Train 7 Project to be executed at the Bonny Island LNG complex in Nigeria.
The overall value of the contracts is in excess of US$4 billion. Saipem’s share, as leader of the SCD JV (60% share), amounts to approximately US$2.7 billion.
The NLNG Train 7 Project consists of the construction of one complete LNG train and one additional liquefaction unit with a total capacity of approximately 8 million tpy, plus other extensive associated utilities and infrastructures.
Stefano Cao, Saipem’s CEO, commented: “This new project in Nigeria – where we have been operating for over 50 years – confirms our ability to build solid relationships, qualifying Saipem as a global company. It also proves the validity of the management methods of the Covid-19 emergency thanks to the flexibility of our organisational model and the practise of our people to work remotely. The investment decision by Nigeria LNG Ltd, which includes several important energy companies, demonstrates that natural gas, in whose value chain Saipem has a recognised leadership, will be pivotal to the energy transition. The award of this contract contributes to increase the portion of non-oil-related backlog and confirms the overcoming of the link between Saipem’s share value and oil price.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/14052020/saipem-jv-awarded-nlng-train-7-contracts/