Financial Energy Review
The Nigeria National Petroleum Corporation (NNPC) and the Nigeria LNG Limited (NLNG) have signed pact for the engineering, procurement and construction (EPC) contracts for the Train 7 project.
The contracts were signed with the SCD JV Consortium, comprising affiliates of Saipem, Chiyoda and Daewoo.
The NNLG said the signing of the EPC contracts have now triggered the effective commencement of the detailed design and construction phase of the multi-billion dollar project.
On completion, the project is expected to raise the plant’s current six-train capacity by 35 per cent, from the extant 22 million tonnes per annum (MTPA) to 30 MTPA.
During the contract signing ceremony held online, the Group Managing Director of the NNPC, Mele Kyari, said the federal government was determined to go ahead with the construction of the project despite the challenges posed by the coronavirus pandemic on the global economy.
Mr Kyari said despite fears that the COVID-19 crisis could disrupt the completion of the construction of the Train 7 Project, he was optimistic the pandemic will end long before the construction of the project is completed.
“The pandemic crisis is not forever. I am confident it will come to end before the construction is completed and operations begin in five years time,” Mr Kyari said.
Successes, models
The NNPC GMD said the company’s successes since it commenced operation in 1999 have continued to prove it is a unique business model that is profitable to all its stakeholders.
“NNPC and the other shareholders — Shell, Total and Eni — are proud to be a part of this exceptional Nigerian brand that stands out in the global market,” he said.
