The Nigeria Liquefied Natural Gas Limited has announced that SCD Joint Venture Consortium –comprising Saipem of Italy, Japan’s Chiyoda and Daewoo of South Korea – has emerged the preferred bidder for its liquefied natural gas Train 7 project.
The Managing Director of Nigeria LNG, Tony Attah, made the announcement at the letter of intent signing ceremony in Abuja.
He noted that with the presentation of the letter of intent to the SCD JV Consortium, the group had been awarded the contract to undertake the engineering, procurement and construction for the project.
Attah further stated that with the issuance of the letter of intent, the NLNG moved closer to the signing of the final investment decision of the Train 7 project, which he disclosed would be attained before the end of October.
He disclosed that the company had concluded arrangements to ensure that after the signing of the FID, the project would be completed within four to five years, as this would be critical to it remaining competitive and profitable in the global market.
The NLNG chief executive explained that Train 7 was the company’s sure way to attaining the 35 per cent increase in its production capacity, from 22m tonnes per annum to 30 MTPA.
He noted that at the construction phase, the project would attract an investment of over $7bn, boost the Foreign Direct Investment profile of the country, and provide about 10,000 jobs during the construction stage.
“With Train 7 onboard our operation, we can consistently continue to deliver on our vision of being a global LNG company helping to build a better Nigeria.
“We can only achieve this by sustaining our relevance in the global LNG market and in turn continue to contribute significantly to the economic base of the nation through the payment of our taxes and applicable levies, our Corporate Social Responsibility initiatives, our LPG supply to the domestic market and our support for indigenous capacity development,” he said.