Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari, Wednesday disclosed that the corporation, Shell, Total and Eni, who are investors in the NLNG Limited, will in October sign the FID on the Train-7 expansion project.
NNPC represents Nigeria’s interest in the 22 metric tonnes per annum (mtpa) NLNG with 49 per cent equity shares, while Shell has 25.6 per cent, Total – 15 per cent and Eni – 10.4 per cent.
NLNG had explained then that it would shop for $12 billion for the entire expansion drive which include the development of new gas fields for feedstock to the new train expected to raise NLNG’s capacity by 35 per cent, and to 30mtpa.
However, a statement from the NNPC, disclosed that Kyari said the FID will happen in October. He urged the management of the NLNG to ensure the October 2019 FID target was met, and also go beyond the Train-7 expansion.
According to the statement signed by NNPC’s Group General Manager Public Affairs, Mr. Ndu Ughamadu, the NLNG management team was led by its Managing Director, Mr. Tony Attah, on a visit to Mele Kyari who reportedly told them to consider the October Train-7 FID on the project as a done deal.
He noted that the focus should be on, “what else can we do beyond Train-7 to expand NLNG operations.”
Kyari, assured of the unflinching commitment of the federal government and the NNPC management in the future expansion drive of NLNG, saying all obstacles that could impede the actualisation of the Train-7 FID project should be promptly identified and removed ahead of the October 2019 timeline.
Attah, in his presentation, reportedly applauded the historic role of the NNPC in the successful midwife of NLNG, 30 years ago, through sheer vision and sense of purpose.
He said the company would be relying on the usual invaluable support from the corporation to achieve the successful execution of the Train-7 FID project and lots more, and announced that the project would generate a projected 12,000 jobs with massive spine-offs on Nigeria’s economy.
Source: THISDAY
