Nigeria LNG has signed a Letter of Intent (LOI) for the engineering, procurement, and construction (EPC) of Train 7 with an international consortium.
The company said on Wednesday via social media that the winning bidder of the multi-billion turnkey project was a consortium known as SCD – Saipem Chiyoda and Daewoo.
According to Nigeria LNG, the signing of the LOI means that the firm moved closer to signing a final investment decision (FID) for construction of Train 7.
Managing director of NLNG Tony Attah said that the signing was a milestone leading the company closer to FID on Train 7. He said Train 7 would increase the production capacity of the company by 35 percent as well as attract over $10 billion foreign direct investment to Nigeria.
Deputy managing director Sadeeq Mai-Bornu added: “ NLNG will maintain Nigeria’s place in the global gas market and continue to support our domestic LPG consumption through our commitment of 350 million tonnes of LPG to the local market. ”
Also, the Nigerian Federal Government represented by the Permanent Secretary of the Ministry of Petroleum Resources assured of support for the speedy implementation of the Train 7 project while the four partners – NNPC, Shell, Total, and Eni – assured shareholders that the FID for the project would be signed by October 31.
It is worth reminding that the Nigerian Content Development and Monitoring Board (NCDMB) and Nigeria LNG signed a plan to increase local content in the NLNG Train 7 project in late March .