12 years after, NLNG board vote to construct multi-billion-dollar gas pipeline project

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Shareholders of Nigeria LNG Limited have finally decided to expand its multi-billion-dollar Train-7 gas project in a bid to increase its production by 35 percent and its competitiveness in the global LNG market.

The Final Investment Decision (FID) which was announced by the NLNG on Friday has been delayed for 12 years, and it is expected to increase from 22 metric tonnes per annum (MTPA) to 30 MTPA. NLNG is jointly owned by four shareholders namely the federal government, represented by the Nigerian National Petroleum Corporation (NNPC) with 49 percent; Shell (25.6 percent); Total with 15 percent and Eni International with 10.4 percent.

Speaking on Friday during the Special Board Meeting where shareholders took the Final Investment Decision (FID), the Group Managing Director of the NNPC, Mr. Mele Kyari, stressed that the FID will generate $20 billion net revenue to the Federal Government; provide at least 50,000 direct and indirect jobs.

“We have decided to proceed with the Train 7 project today. It is an important day. It is a show of confidence that investors can put money into this project.

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