Lagos — The Royal Dutch Shell says it has met all conditions for the Final Investment Decision, FID, and contracts awarded on the Nigeria Liquefied Natural Gas, NLNG, Train 7 project.
Shell made the announcement on Thursday as it released its second quarter report for 2020.
The company has an interest of 25.6% in the NLNG.
On completion, the NLNG Train 7 will add 8 million tonnes per annum (mtpa) of capacity to the Bonny Island facility, and boost Nigeria’s liquefied natural gas output by more than 30%.
According to the Q2 report, Shell reported a financial loss of $18.3 billion, net loss of $18.3bn for the second quarter 2020, down from a net profit of $3bn over the same period last year and $2.7bn in the first three months of 2020.
Speaking on the result, Ben van Beurden, Shell’s chief executive, said: “Shell has delivered resilient cash flow in a remarkably challenging environment”, adding that it would continue to focus on safe and reliable operations as its decisive cash preservation measures will underpin the strengthening of its balance sheet.
Back in May, NLNG signed the engineering, procurement, and construction, EPC, contract for the Train 7 project.
The Executive Secretary, Nigerian Content Development and Monitoring Board, NCDMB, Simbi Wabote disclosed that over 40,000 direct and indirect jobs will be available during the project’s construction stage, adding that 55% of the engineering activities will be carried out in Nigeria and 55% of all procurement will be done by competent Nigerian vendors.