30 December 2015, Sweetcrude, Abuja – The Nigerian Liquefied Natural Gas, NLNG, shareholders would be taking final investment decision, FID, for the NLNG Train 7 project soon, according to Minister of State for Petroleum, Dr. Ibe Kachikwu.
The FID by the shareholders – Nigerian National Petroleum Corporation, NNPC; Shell Gas BV, Total LNG Nigeria Limited and Eni International NA – has been dragging for years, casting doubt on the possibility of the project’s take off.
But, Kachikwu, who is also Group Managing Director of the NNPC, said the shareholders were now desirous of benefiting from the market dynamics and the economies of scale of the existing trains.
Said the minister: “We held a meeting two months ago and we are almost getting towards the FID. I think everybody is on block now that Train 7 needs to happen.
“Of course, you know that increasingly, the LNG market is getting very tight with the likes of the Qataris, the Saudi Arabia and Russia, dominating the market, and of course, the United States, which is now in a position to actually export”.