0 C
Lagos, NG
17th November 2019
  • Home
  • LOCAL NEWS
  • NLNG Train Seven: Senate backs $10bn investment in the gas sector
LOCAL NEWS

NLNG Train Seven: Senate backs $10bn investment in the gas sector

NLNG Train Seven: Senate backs $10bn investment in the gas sector
NLNG Train Seven: Senate backs $10bn investment in the gas sector

The Senate is throwing its full weight behind the 10billion dollars Nigeria Liquefied Natural Gas NLNG Train seven Project investment in the nation’s gas sector, by the Nigeria Liquefied Natural Gas (NLNG). It also urged Nigerians to actively participate in the project which would create 10,000 new jobs and expand gas production capacity by 35 per cent.

Senate commendation followed a presentation by the Managing Director of NLNG Mr Tony Attah, to the Senate Committee on Local Content.

Chairman of the Committee, Sen. Teslim Folarin affirmed senate’s commitment towards ensuring that Nigerians are active participants in the gas sector.

Folarin in a statement by his Senior Legislative Aid Bamidela Ajibola on Friday said the committee was delighted at the expansion of the nation’s gas capacity from 22MTPA to 30MTPA through the train7 project.

He said the project would be constructed by the SCD consortium, comprising of Saipem, Chiyoda and Daewoo.

Folarin stressed with the foreign direct investment on the project, the gas sector and the nation, stands to witness unprecedented benefit.

He, however, said that NLNG should expect further invitations from the senate given its determination to ensure that the project complies with Local Content laws once the Final Investment Decision (FID) on the NLNG Train seven project was signed.

Attah in his remark explained that NLNG was owned by four shareholders, namely the Federal Government, represented by the Nigerian National Petroleum Corporation (NNPC) with 49 per cent, stake; Shell Gas has 25.6 per cent Total Gaz Electricite with 15 per cent and Eni International with 10.4 per cent.

He said NLNG selected the SCD consortium for the NLNG Train seven project after a thorough bidding process.

According to him, the SCD consortium will collectively build the seven billion dollars LNG Train seven expansion plant.

Attah said that an additional 3billion dollars worth of investment in upstream gas development would be spent to meet the expected demands of the new capacity.

He said the investment would raise the global profile of Nigeria as the fourth largest exporter of LNG in the world.

He commended the Senate and its Committee on Local Content for the support rendered so far.

(NAN)

Related posts

PHOTO: Presidency to analyze Leah Sharibu’s audio

yellowdanfo

PHOTO: Resistance against anti-graft war frightening-Ibrahim Magu

yellowdanfo

Chelsea beats Lille 1-2 to get their first UCL win this season

yellowdanfo

PHOTO: Senator Dino Shares A ‘Thank You’ Message To His Constituency For Their Vote Of Confidence

yellowdanfo

Lagos RRS parade men who killed an Uber driver with a stone

yellowdanfo

How a Lagos Bus driver raped a 78-year-old woman-Edgal

yellowdanfo

Gov Fayemi condoles with PA Fasoranti over daughter’s death

yellowdanfo

APC urges Tambuwal to stop political victimisation of workers

yellowdanfo

Okowa visits widow of his slain aide, Lawrence Ngozi Ijei

yellowdanfo

Nigeria-Pakistan to further strengthen Bilateral Relations

yellowdanfo

Leave a Comment

Login

X

Register