NLNG signs engineering design contract for Train 7 construction (Businessday)

‚ÄčIn the build-up towards Train 7 Final Investment Decision (FID) later this year, the Nigeria LNG Limited (NLNG) is seeking about N2.52 trillion ($7 billion) from the global financial markets for the sustainability of its operations and expansion project  which will increase its production capacity from 22 Million Tonnes Per Annum (MTPA) to 30 MTPA.

At a ceremony in London yesterday (Wednesday) to commemorate the repayment of a $5.45 billion Shareholder loan for its existing trains, Tony Attah, Managing Director/Chief Executive Officer of NLNG, revealed that funds being sought will cover the company's expansion program (construction of Train 7) and investment in the upstream gas sector in Nigeria that will ensure the sustainability of feedgas supply to its existing trains (Trains 1 to 6) and the new Train 7.

The repaid consolidated loan contributed towards funding the Base Project, Expansion Project, NLNG Plus Project and Train 6. The final repayment is a milestone for NLNG and Nigeria.


Thursday, July 12, 2018
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