Total to take FID on Nigeria LNG project

By September 30, 2019 Investment News

French oil major, Total has said it will take final investment decision, FID, on its liquefied natural gas, LNG, project in Nigeria by the end of the year, a report by Reuters has reported.

Specifically, the project is the Nigeria LNG Train 7 for which Total and partners have been mulling final decision for some years back.

According to the firm’s head of production, Arnaud Breuillac, who spoke during the company’s Investor Day in New York, final decision on the project will enable delivery of its first LNG by 2023.

The expansion, he said, would boost Nigeria’s LNG production by seven million tons per year to an existing 22 million tons per year plant. Total aims to grow the share of gas output to 22% of its portfolio by 2025 from 14% in 2018.

Apart from Total, which holds 15 per cent stake in the Nigeria LNG, other partners are the Nigerian government, represented by state oil company, Nigerian National Petroleum Corporation, NNPC, with 49 percent stake; Shell (25.6%) and Eni (10.4%).

 

Source: Sweetcrudereports