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NLNG takes first step in $12bn LNG expansion plan

Nigeria is taking its first steps to expand its liquefied natural gas capacity by a third, outlining a $12 billion program to help it keep up with the world’s biggest producers of the fuel.

Nigeria LNG, a venture involving the state-owned oil company, NNPC and three oil majors (Royal Dutch Shell Plc, Total SA and Eni SpA.), signed engineering and design contracts for a seventh facility on the nation’s Atlantic coast. Among the contractors participating are Saipem SpA, TechnipFMC Plc and Chiyoda Corp. A final investment decision could be taken late this year. Its latest plan would boost production to 30 million tons by 2024 from 22 million tons now.

Train 7 will cost as much as $6.5 billion to build, with another $5 billion to be spent on wells and pipelines needed to supply the plant. Nigeria LNG is seeking $7 billion from the global financial markets for sustainability of its operations and the expansion, according to a statement released late Wednesday. On Wednesday, the company signed front-end engineering and design contracts with two consortia of engineering companies.

Source: Bloomberg

Doowe Samad
Doowe Samad

We are a leading supplier and distributor of Liquefied Petroleum Gas (LPG) in Nigeria, allowing customers to use LPG gas to power their homes and businesses. Our company is an expert in LPG procurement and commissioning, bulk gas storage, cylinder filling and storage, LPG transport and delivery, installation, and maintenance.

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