There are strong indications that the Nigeria Liquefied Natural Gas (NLNG) Limited’s expansion project may experience further setbacks as shareholders failed to take a Final Investment Decision (FID) on the much publicised $12 billion Train 7 project earlier scheduled for this month without giving a new timeline within which the project would be actualised.
The implication of this is that the management of the company could not proceed with the expansion project, which has been on the drawing board for more than 10 years. It is also feared that given that there is no new date being designated for the FID, the company’s aspiration to grow its production capacity to 30 mtpa from 22 metric tonnes per annum of Liquefied Natural Gas (LNG) to make Nigeria the 3rd World largest gas exporter, may not be actualised anytime soon.
The shareholders of the company had fixed December 2018 for the FID on the new eight million tonnes per annum (MTPA) LNG Train-7 plant, with the duo of Minister of State for Petroleum Resources, Dr. Ibe Kachikwu and the Managing Director of NLNG, Tony Attah, emphatically stating that the FID would not be affected by potential vagaries of Nigeria’s 2019 general election.
Source: THIS DAY
