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 FG to finalise investment plans on NLNG Train 7 FID December

FG to finalise investment plans on NLNG Train 7 FID December


Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Mele 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.

Kyari made this disclosure Thursday in Abuja while receiving the Chairman and Group Chief Executive Officer, Total Group, Patrick Jean Pouyanné and other top management 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 with a population of over 200million that made it the largest market for Oil and Gas products in Africa.

Kyari applauded President Muhammadu Buhari for creating an enabling investment environment for the oil and gas industry and urged 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 them to bring to fruition all their 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, saying that the Egina FPSO was currently producing 200,000 barrels per day.

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

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