16 July 2018, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation, NNPC, has emphasised its commitment to the success of the Nigerian Liquefied Natural Gas, NLNG, Train 7 project for which the stakeholders last week signed the Front End Engineering Design, FEED, contract in London.
NNPC Group Managing Director, Dr. Maikanti Baru, expressed the commitment at the contract signing ceremony, stating that as a shareholder in the NLNG, the corporation “had immensely contributed to the success of the company over the years, supporting equity participation and contribution to shareholders loan”.
He, specifically, expressed the corporation’s readiness to support the aspirations of the Federal Government and the shareholders to actualising the Train 7 project.
Said he: “Through critical interface with relevant government agencies, we have played a pivotal role in the actualisation of Trains 1 to 6 (T1-T6).
“Given the success of T1-T6, NNPC is therefore fully committed and aligned with government aspirations to replicate the success of this project. Therefore, our current focus is to kick start T7 (Train 7)”.
Describing the NLNG as a jewel in the crown of Nigeria as well as a very strategic investment for the nation, Dr. Baru stated that the NLNG would continue to act as a catalyst for nation-building for years to come.
He said the prompt servicing of shareholders’ loan with accelerated repayments did not only demonstrate NLNG’s credit worthiness, it had also reiterated its robust financial position.
The NLNG T7 expansion project aims to increase NLNG production capacity from 22 MPTA to over 30 MTPA by the debottlenecking of T1-6 and the addition of train -T7 and associated infrastructure at an estimated cost of US$4.3 billion. The target Final Investment Decision, FID, date is fourth quarter 2018.
Jointly owned by the NNPC (49%), Shell (25.6%), Total (15%) and Eni (10.4%), NLNG’s successful journey started in 1999 with the commissioning of Train 2 ahead of Train 1 which was commissioned in 2000. The company grew to a six-train facility with the commissioning of Train 6 in 2007.