FID on NLNG’s Train-7 Project Expected Soon

By September 9, 2019 Investment News

The Minister of State for Petroleum Resources, Chief Timipre Sylva, has directed all agencies in the ministry to work towards ensuring that the final investment decision for the Train-7 project of the Nigeria LNG Limited is taken in a matter of weeks.

The Nigerian Content Development and Monitoring Board disclosed this in a statement while announcing the submission of the Nigerian content compliance requirements for the project by the NLNG.

The Executive Secretary, NCDMB, Mr Simbi Wabote, said that the minister was very keen on Train-7 project as it would create jobs, enhance participation of Nigerian businesses in the oil and gas sector and address insecurity in the region.

“Thus, the minister of state has directed that any encumbrance related to the FID of Train-7 must be addressed by all agencies of the ministry so that FID is taken in a matter of weeks,” the statement said.

Wabote promised that the board would complete the review of the submitted Nigerian content requirements and revert to the NLNG within a few days.

The Train-7 project is expected to ramp up NLNG’s production capacity by 35 per cent from 22 million tonnes per annum to 30 MTPA.

According to the statement, a team from the NLNG led by the Managing Director, Mr Tony Attah, met with Wabote last week to formally submit the outcome of its recently concluded commercial evaluation exercise of the multibillion-dollar Train-7 project.

It said, “This submission represents the penultimate step of the board’s project certification and authorisation procedure in compliance with the Nigerian Oil and Gas Industry Content Act of 2010.”

Attah commended the board’s support at every stage of the process following the sign-off of the Train-7 Nigerian Content Plan in March 2019.

He said although the previous LNG trains were built before the enactment of the NOGICD Act 2010, the NLNG made it a point of duty to fully comply with the requirements of the Act for the Train-7 project.

 

Source: Punch