NLNG Signs Contract For Train 7 Project
Nigeria LNG Limited (NLNG) has signed the Contracts for the construction of its Train 7 Project with the SCD JV Consortium, comprising affiliates of Saipem, Chiyoda and Daewoo.
Speaking on the contracts’ signing, Managing Director and Chief Executive Officer of NLNG, Mr. Tony Attah, was quoted in a statement signed by the General Manager, External Relations and Sustainable Development, Mrs. Eyono Fatai-Williams, as saying that the EPC contracts represented yet another milestone in the company’s journey towards achieving its vision of being a global LNG company, helping to build a better Nigeria.
He said: “With the award of the EPC Contracts to our preferred bidders (SCD JV), we are guaranteeing that our country remains significantly on the global list of LNG suppliers. This singular act clearly demonstrates our shareholders’ determination and resolve to sustain the economic dividends that NLNG’s monetization of our vast natural gas reserves offers our great country Nigeria”.
Attah expressed confidence in SCD JV consortium’s proven competence, adding that the demonstration of an understanding of NLNG’s business philosophy by the consortium will positively influence the execution of the project and ensure zero harm to people, environment and host communities.
The statement also quoted the Group Managing Director of the NNPC and Director on the NLNG Board, Mallam Mele Kyari, as saying that the “Nigeria LNG’s successes, since it started operation in 1999, had continued to prove its unique business model that is profitable to all its stakeholders.
He said: “It is for this reason that our President, Muhammadu Buhari, instructed through the Minister of State for Petroleum Resources that NNPC as a shareholder, it must do everything possible to support all the other shareholders and NLNG’s management to secure the much-needed public confidence from all critical stakeholders, especially the critical agencies of the Federal Government of Nigeria and international investors, to pursue the company’s ambition of adding a 7th train to its existing production capacity.
According to the statement, the project was in fulfillment of the NLNG’s vision of being a ‘global company, helping to build a better Nigeria.’
The project upon completion will support the federal government’s drive to generate more revenue from Nigeria’s proven gas reserves of about 200 Trillion Cubic Feet (Tcf) and further reduce gas flaring in the country’s upstream oil and gas industry.
The construction period is expected to last approximately five years with the first LNG rundown expected in 2025.