The Nigeria LNG (NLNG) Limited Alumni Association has welcomed the Final Investment Decision (FID) on the company’s Train Seven project.
This was disclosed in a statement jointly signed by interim chairman of the association, Kayode Atanda, and BOT chairman, Grant Akata,” on Friday.
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“With this long-awaited decision, Nigeria will soon become the world’s third-biggest supplier of liquefied natural gas,” the statement said.
The FID was taken at a meeting of NLNG shareholders in Abuja on Friday.
According to the association of former NLNG staff, the decision “is a strategic door opener for stronger Nigerian economy as it will create jobs and bring foreign investment into the country.”
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The statement continues: “Building on the previous six trains, this important step will increase NLNG’s production capacity from 22 million metric tons (MTPA) yearly to 30million MPTA, bring into the country about US $10billion in foreign investment and create over 10,000 jobs during construction.
“The Chairman of NLNG Alumni Association Board of Trustees, Mr. Grant Akata and the Chairman of the association’s interim management committee, Mr. Kayode Atanda, congratulate the Federal Government, NLNG shareholders and the management and staff of the company on this major milestone.
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“The association thanked the current management team of NLNG led by Mr. Tony Attah and Mr. Sadeeq Mai-Bornu for their efforts in achieving Train 7 project FID and thus ensuring that the labours and contributions of its members towards the progress of the company did not go in vain.
“Members of the association pledged their willingness to continue to support the company in its efforts to monetize Nigeria’s abundant natural gas and to end gas flaring in the Niger Delta region.”
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NLNG is an incorporated Joint-Venture owned by four shareholders, namely the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation (49%), Shell Gas B.V. (25.6%), Total Gaz Electricite Holdings France (15%), and Eni International N.A. N.V. S.àr.l (10.4%).
