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Home Business News

NLNG Train 7 project to create 140,000 jobs

Damilare Famuyiwa by Damilare Famuyiwa
September 13, 2019
in Business News
project, jobs, NLNG, NLNG Train 7 project to create 140,000 jobs, attract $10 billion FDI 

Tony Attah, MD, NLNG

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Not less than 140,000 jobs will be created from the Nigerian Liquified Natural Gas (NLNG) Train 7 Engineering, Procurement and Construction (EPC) project. This is according to Simbi Wabote, the Executive Secretary, Nigerian Content Development Monitoring Board (NCDMB). 

During the signing of the Letter of Intent (LoI) of the $10 billion project in Abuja, Wabote made known that the target job numbers were exciting, adding that apart from job opportunities and accruable revenues from the project, the drought of Final Investment Decision (FID) in the oil and gas industry were poised to end. 

More so, the company (NLNG) had stated that up to $10 billion worth of Foreign Direct Investment (FDI) was expected to flow into Nigeria in the next five years.

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[READ MORE: Nigerians may lose their jobs as mass sack looms at British American Tobacco globally]

What you should know: Nairametrics understands that the NLNG is owned by four shareholders namely – the Federal Government, represented by the Nigerian National Petroleum Corporation (NNPC) with 49% interest; Shell Gas B.V, which has 25.6%; Total Gaz Electricite Holdings France with 15% and Eni International – 10.4%. 

The Shell-run NLNG disclosed that it had selected a consortium comprising Italian firm, Saipem; South Korean Daewoo Engineering and Japanese Chiyoda to build its $7 billion Train-7 LNG expansion plant. 

Prior to signing the LoI with the consortium, the Managing Director of NLNG, Tony Attah, said the next step in the Train-7 expansion project would be to sign the FID by October, 2019. He added that the Train-7 project would take at least five years after the FID and as well as increase NLNG’s market share in the global LNG industry. 

Attah also emphasised that the project would raise the global profile of Nigeria as the fourth largest exporter of LNG in the world. 

[READ ALSO: Jobs at risk as digitalisation takes its toll on Standard Chartered expansion plans]

 


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Tags: Final Investment DecisionNigerian Content Development Monitoring BoardNigerian Liquefied Natural GasNigerian Liquified Natural GasNigerian National Petroleum CorporationNLNGNLNG Train 7projectSimbi WaboteTony-Attah
Damilare Famuyiwa

Damilare Famuyiwa

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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