Nigeria LNG Limited’s Alumni Association has given the Buhari administration a pat on the back for achieving today’s Final Investment Decision (FID) on NLNG’s Train Seven project.
“With this long-awaited decision, Nigeria will soon become the world’s third biggest supplier of liquefied natural gas”, the association’s Board of Trustees president Grant Akata and secretary Kayode Atanda said in a statement.
The Nigerian National Petroleum Corporation (NNPC and its investment partners, Shell, Total and ENI, took the Final Investment Decision (FID) today to go ahead with the construction of Train 7 of the Nigeria Liquefied Natural Gas (NLNG). The project has been on the cards for more than 10 years.
According to the Alumni group, today’s decision by NLNG shareholders was a strategic door opener for stronger Nigerian economy as it will create jobs and bring foreign investment into the country.
“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.
“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”.
