10 year wait for Final Investment Decision on Train 7 coming to end soon—NNPC
The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru has given fresh indication that the log wait for Final Investment Decision (FID) on Train 7 which had been on since 2008 would soon be over.
Business Hilights recalls that the federal government had considered harnessing the nation’s massive vast natural gas resources and produce LNG and Natural Gas Liquids for export in establishing the NLNG in 1989 through the NNPC which owns 49 per cent, Shell (25.6 per cent), Total (15 per cent) and Eni (10.4 per cent).
Currently it has six trains in operation. The FID on the seventh train is expected to be taken in December, a move that will increase the company’s production capacity from 22 million tonnes per annum to 30 MTPA.
In his presentation on Nigerian Day during the 30th edition of the Gas Technology Conference in Barcelona, Spain, he described the coming of Train 7 of the Nigeria LNG Limited as a big bang that would usher in new developments for Nigeria’s energy sector.
According to a statement made available to Business Hilights Abuja Bureau chief by the Group General Manager, Public Affairs Division of the corporation, Mr. Ndu Ughamadu, Train 7 would expand the nation’s economy as the scheme was capable of unlocking new vistas for the country’s Liquefied Natural Gas potential.
Baru said “We cannot consume out our gas resources in the next 50 years, even if we generate as high as 40,000 megawatts of power. We are happy that the NLNG is a credible company capable of competing in the international arena.”
