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FG to finalise investment plan on NLNG Train 7 next month




The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Kyari, on Thursday disclosed that the Final Investment Decision (FID) for the Nigerian Liquefied Natural Gas (NLNG) Train 7 would be taken next month in its desire to deepen natural gas consumption in Nigeria.

This was disclosed in Abuja while receiving the Chairman and Group Chief Executive Officer, Total Group, Patrick Jean Pouyanné and other top management officials of the Group.

He stated that the Corporation would continue to align its business processes with its partners in accordance with global best practices for the benefit of the investments and for the good of Nigerians who, he noted, remained the key shareholders of the national oil company.

He said: “We see Total Exploration and Production as a total partner. Total is one of the few multinational oil companies in Nigeria that are fully integrated with their visible footprints from the upstream to downstream oil and gas sector”.

He described Nigeria as the best investment destination in Africa with the largest growing economy and a population of over 200million making it the largest market for Oil and Gas products in Africa.

He applauded President Muhammadu Buhari for creating an enabling investment environment for the oil and gas industry, urging the Total Group and other international firms to take advantage of the abundant conducive opportunities in the petroleum sector.

The NNPC helmsman assured the Total Group of the Corporation’s unflinching partnership and implored it to bring to fruition all its ongoing investment portfolios for the benefit of the Joint Venture.

Earlier, the Chairman and Group Chief Executive Officer, Total Group, Pouyanné, said Nigeria was very important to the Total Group, adding that the Egina FPSO was currently producing 200,000 barrels per day.

He reassured that the  Group would continue to invest in more deep-water projects in Nigeria while  describing the NLNG project as a very important asset that his company was deeply committed to.