Business Hilights
Tracking Nigeria's Headline Business News Online

Advert space

NLNG to appear before Senate for local content details on $10bn Train 7 scheme

Once the Final Investment Decision (FID) on the Train 7 Project of the Nigeria LNG Limited is taken, the Nigerian Senate will invite the Managing Director, Mr. Tony Attah to provide details on the local content compliance. This was the position of the Senate Committee on Local Content

Chairman of the Senate Committee on Local Content, Senator Teslim Folarin, vide a statement made available by his media aide, Bamidele Ajibola, said “The Senate will invite the Nigeria LNG Limited to ensure compliance with local content laws in its $10bn Train 7 project.”

“The NLNG should expect further invitations from the Senate once the Final Investment Decision on the TRAIN 7 project was signed because the National Assembly was determined to ensure that the project complied with local content laws.

While noting that the $10bn project would expand gas production capacity by 35 per cent, the Senator noted that his Committee was delighted at the expansion of the nation’s gas capacity from 22MTPA to 30MTPA through the Train-7 project.

Responding during the meeting with Senate Committee chairman, LNG boss recalled that NLNG was owned by four shareholders including the Federal Government, represented by the Nigerian National Petroleum Corporation (NNPC) with 49 per cent stake and three other entities.