The Nigeria Liquefied Natural Gas Limited,will today,perform ground breaking ceremony of its ambitious Train 7 Gas Project in Bonny Island,Rivers.
Minister of State for Petroleum Resources,Mr.Timipre Sylva, government functionaries ,top echelon of the gas company and representatives of contractors handling the project are expected to grace the occasion that would mark the glory moment of Nigeria’s liquefied natural gas output.
The Train 7 Project is a joint venture consortium that seeks to boost Nigeria’s Liquefied Natural Gas (LNG) output to 30 million tons per annum (mtpa) from 22 million mtpa.
Nigeria’s LNG, Italy’s Saipem, Japan’s Chiyoda Corporation and South Korea’s Daewoo had raised an estimated $6 billion dollars to expand the country’s LNG to Train 7.
Last year,Nigeria LNG Limited (NLNG), signed Engineering, Procurement and Construction (EPC) Contracts for much-anticipated Train 7 Project with the SCD JV Consortium, comprising affiliates of Saipem, Chiyoda and Daewoo.
Tony Attah, Managing Director, NLNG, said the award of the EPC Contracts clearly demonstrates the company’s shareholders’ determination and resolve to sustain the economic dividends NLNG’s monetization of its vast natural gas reserves offers Nigeria
“Our Train 7 project alone will attract about$10billion into the country with significant revenue generation for the government and our shareholders, but also over 12000 jobs opportunity for Nigerians.”
Group Managing Director (NNPC) and a Director on the NLNG Board, Mele Kyari, said President, Muhammadu Buhari instructed that NNPC as a Shareholder must do everything possible to support all the other shareholders and NLNG’s Management to secure the much-needed public confidence from all critical stakeholders, especially agencies of the Federal Government and international investors, to pursue the Company’s ambition of adding a 7th train to its existing production capacity.
“I encourage every stakeholder involved in the execution of the Train 7 Project, especially the SCD JV Consortium, NLNG Train 7 Project Team and the Company’s Management to leave no stone unturned in making this project a reality,”
The project upon completion, the company noted, would support the Federal Government’s drive to generate more revenue from Nigeria’s proven gas reserves of about 200 Trillion Cubic Feet (Tcf) and further reduce gas flaring in the country’s upstream oil and gas industry.
The construction period is expected to last approximately five years with first LNG rundown expected in 2025.
At the recent Nigeria International Petroleum Summit in Abuja,Ali Uwais,NLNG Train 7 Director,disclosed that the constraints that could hamper the execution of the project have been taken care of by his company.
