Image courtesy of Nigeria LNG
Nigeria LNG has made the final investment decision (FID) for its Train 7 project, which will increase the NLNG facility’s production capacity by 35 percent.
This decision allows the expansion to increase the capacity of NLNG’s six-train plant from 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, NLNG said in its statement.
Nigeria LNG is a joint venture owned by, the government of Nigeria, represented by Nigerian National Petroleum Corporation (49 percent), Shell (25.6 percent), Total Gaz Electricite Holdings France (15 percent), and Eni International (10.4 percent).
The company further remarked that the project upon completion will support the 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 the first LNG rundown expected in 2024.