The Nigerian National Petroleum Corporation (NNPC) and shareholders of the Nigeria LNG Limited which include Shell, Total and Eni on Friday announced the Final Investment Decision for the take-off of Train 7 Project of the NLNG.
The Train 7 project, which would deliver a significant local content in construction, production of cables, welding, valves, scaffolding, furniture, painting and medical, is expected to generate about 12,000 jobs.
The project follows a string of value adding decisions made under the current Group Managing Director of NNPC, Mele Kyari whose leadership has focused on repositioning the oil and gas industry articulated in the TAPE Agenda of Transparency and Accountability AND Performance Excellence.
Train 7 will complement the existing six-trains and raise Nigeria’s total production capacity from the current 22 million tonnes per annum (MTPA) of LNG to 30 million tonnes per annum, which is an increase of 35 per cent.
NLNG currently has six trains capable of producing 22 million tonnes per annum (MTPA) of LNG, and five MTPA of Natural Gas Liquids (NGLs), that is Liquefied Petroleum Gas (LPG) or cooking gas, and condensate – from 3.5 billion standard cubic feet per day (Bcf/d) of natural gas intake.
The NLNG Train 7 which was signed in the presence of the shareholders will re-awaken activities in the nation’s oil and gas sector after years of inactivity due to project dryness.
The shareholders of the Nigeria LNG Limited include the NNPC, which holds 49 per cent shares on behalf of the federal government; Shell Gas B.V (SGBV), 25.6 per cent; Total Gaz Electricite Holdings France, 15 per cent stake; and Eni International (N.A) N.V.S.a.r.l, with 10.4 per cent stake.
However, with this development, companies and workers will be deployed to site to deliver the project that has been adjudged highly significant to the country’s status as a major player in the global gas market as well as to the economic development of the nation.No tags for this post.