The signing of the final investment decision (FID) for Nigeria Liquefied Gas project train 7 has been delayed. Originally scheduled to take place on Thursday in Abuja, it will now happen on Friday.
The delay is because the stakeholders were yet to conclude the meeting that precedes the signing, sources close to the promoters said.
The sources said the meeting scheduled to precede the signing of the FID was originally planned to end by around 2 pm local time on Thursday, but as at 5 pm, it was still going on. It was envisaged that it could even continue till midday Friday.
Whatever announcement that would be made by the promoters would be after this meeting.
The project, when it finally takes off, will make a major impact on the national economy, as it would boost the Federal Government’s revenue by $9bn and generate about 10,000 direct jobs and 40,000 indirect jobs to ease the youth unemployment challenge in the country.
It would deliver 100 percent engineering of all non-cryogenic areas in-country and l also push up Nigeria’s profile as a major force to be reckoned with globally in terms of gas production would also be boosted.
Earlier in the year, NLNG announced that the joint venture company, SCD Group, comprising the Italian company, Saipem, Japan’s Chiyoda Corporation and South Korea’s Daewoo, would undertake the engineering, procurement, and construction for the $10 billion Train-7 project.
NLNG is a joint venture company owned by Nigerian National Petroleum Corporation (49 percent), Shell (25.6 percent), Total (15 percent) and Eni (10.4 percent).
The Train-7 project is located at the Bonny Island LNG facility in the Niger Delta. Once completed, it will include a new liquefaction unit, an 84,200m3 storage tank, a 36,000 m3 condensate tank and three gas turbine generators.
