Skip to main content

NLNG Train 7 to grow production by 35% - The Great Case

How to Seduce Straight Guys

By Eguono Odjegba

NLNG

FOLLOWING the closure of bank and Export Credit Agency, ECA, financing last week, the Nigeria LNG Limited, NLNG, actualized the Final Investment Decision, FID, for its Train 7 Project, projected to increase its production by 35%; while at the same time raising its global LNG market competitiveness.

The FID according to a statement released by NLNG General Manager, External Relations, Eyono Fatayi-Williams, will also allow for the expansion to raise its capacity of NLNG’s six-train plant from the extant 22 Million Tonnes Per Annum (MTPA) to 30 MTPA, in line with projected award of contracts for engineering, procurement and construction activities, coming on the heels of the closure of bank and ECA financing, and the finalization of other key supporting commercial agreements expected in early 2020.

READ ALSO:NRC bows to pressure, introduces e-ticketing(Opens in a new browser tab)

The statement noted that the actualisation of the Train 7 Project coincides with NLNG 30 years of incorporation and 20 years of safe and reliable operations, following its first LNG cargo export in 1999. The statement quoted Tony Attah, MD/CEO of NLNG as saying, “Train 7 is the crux of a growth agenda which will ensure the Company’s position as the 5th major supplier of global LNG is maintained, increasing value to its Shareholders and other stakeholders, as well as further reducing the gas that would otherwise have been flared, in fulfillment of its vision of ‘being a global company, helping to build a better Nigeria”, adding:

“Over 12, 000 jobs will be created during the peak of construction, trade and commercial activities within the Niger Delta region equally receiving a boost as a result.  The Project will also support the development of local engineering and fabrication capacity in the country. Other opportunities for local content include procurement, logistics, equipment leasing, insurance, hotels, office supplies, aviation, haulage, and many more.”

The construction period after FID will last approximately five years with first LNG rundown expected in 2024. NLNG is an incorporated Joint-Venture owned by four Shareholders, namely, the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation, 49%, Shell Gas B.V.,25.6%, Total Gaz Electricite Holdings France, 15%, and Eni International N.A. N.V. S.àr.l ,10.4%.

The Company further remarked that the Project upon completion will support the Federal 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.

Interestingly, President of the Nigerian Shipowners Association,NISA, Dr. McGeorge Onyung reportedly said the NLNG $10b Train 7 financial deal is a broad based industry financial stream from which indigenous Nigerian shipping operators can with proper arrangement and positioning secure as much as 30% sub business dip.

 

The post NLNG Train 7 to grow production by 35% appeared first on Vanguard News.

Labels:

Comments

Post a Comment

Popular posts from this blog

Arts & Culture events of 2019 and expectations in 2020 - The Great Case

How to Seduce Straight Guys By Osa Amadi, Chukwuma Ajakah&Prisca Sam-Duru As the light fades on 2019, it is gratifying to note that the year has been blissful for arts and culture. Reminiscing on the panoramic presentations that characterized the reviews, one readily observes that art, culture and entertainment are intricately intertwined and inexhaustibly wide. Sanwo-Olu says LASG committed to seaport project in Badagry Art appeals to all ages, cutting across every imaginable barrier through its multifaceted form and functions. The reviews focused on the intrinsic and extrinsic values that make art rivet in virtually every facet of human existence: art for its own sake, the aesthetics, socio-cultural relevance, art promotion and the artists. The stories encompassing all genres of art reveal that art can be explored to propel desirable changes in the society. The roll call is long and colorful: the crossing of the River Nun to bury Pa Gabriel Okara in his village in Bayelsa, E...
Post a Comment
Read more

PDP postpones purchase of forms for Anambra governorship primaries - The Great Case

How to Seduce Straight Guys The Peoples Democratic Party (PDP) on Sunday announced the postponement  of the sale of forms for Anambra governorship primary election from the earlier scheduled date of Monday, March 1, to Wednesday, March 10. The party in a statement by its National Organising Secretary, Retired Col. Austin Akobundu, in Abuja also announced the extension of the tenure of its zonal caretaker Committees for South-West, North-Central and North-West by 30 days. Akobundu also gave March 1, as the last day for submission of already purchased and completed forms for its zonal congresses in all the zones. “Consequently, screening of aspirants for North-East, South-East and South-South Zonal congresses is now scheduled for Tuesday, March 2, at the zonal headquarters. “In the same vein, the tenures of Zonal Caretaker Committees for South-West, North-Central and North-West have been extended for another period of 30 days. “The fresh extension takes effect from March 10, ...
Post a Comment
Read more

Commonwealth doctors task FG on security, welfare - The Great Case

How to Seduce Straight Guys By Chioma Obinna Dr.-Osahon-Enabulele A s the body of the murdered Prof Jerome Elusiyan was laid to rest weekend, the Commonwealth Medical Association, CMA, has called for improved security and ambulance services on Nigerian highways in order to avert needless killings and other social vices. The CMA also expressed dismay over what it described as “an unholy killing and kidnapping” of Medical doctors, health professionals and Aid workers, especially in the North Eastern part of Nigeria, in the course of their sacred duties. is one too many for Nigeria and her health community. READ ALSO: PUMS: Finding 425,000 doctors to meet WHO’s recommendation (Opens in a new browser tab) Speaking through its President, Dr. Osahon Enabulele, the CMA, which is umbrella body of medical doctors in the Commonwealth, expressed sadness over the gruesome murder of Prof Elusiyan by unknown gunmen. Enabulele said: “Importantly, Nigeria government should conduct an urgent ...
Post a Comment
Read more