By Chesa Chesa
President Muhammadu Buhari has congratulated the Nigeria Liquefied Natural Gas company (NLNG), the Nigerian National Petroleum Corporation (NNPC) and other Joint Venture (JV) partners, Shell, Total and AGIP on the signing of the contracts for the Front End Engineering Design (FFED) of Train-7 of the NLNG project.
The President also welcomed the signing of a pact between NLNG, ‘B7 JV Consortium’ and ‘SCD JV Consortium’ on Wednesday in London, which paved the way for the additional Train=7 that would increase the country’s gas production output from 22 million tonnes per annum to 30 metric tonnes yearly.
A press statement it issued soon after the deal was signed, the Presidency said that Buhari commended the commitment of all parties in supporting his administration to launch the “gas revolution” in Nigeria by ensuring the realisation of Train-7, which has been stalled for many years under previous administrations.
“He is optimistic that this significant step would culminate in a Final Investment Decision (FID) for the much-awaited multi-billion dollar Train-7 expansion project by the end of this year.
“The President notes that the signing of the contract for the plant expansion project after an eight-year delay is a sign of irreversible commitment by the Joint Venture to enter a Final Investment Decision (FID), and a clear indication that the confidence of investors is coming back to Nigeria following the good governance practices instituted by his administration”, the Presidency.
Buhari also noted that the 7th train, expected to provide 8,000 jobs was not only important for the country, but also an important benchmark for the Niger Delta region, which rightly yearns for development projects.
”This project perfectly keys into the Federal Government’s ‘Economic Recovery and Growth’ agenda. It signifies foreign investors’ confidence in our country’s economy,” the President said in the statement issued by his spokesman, Garba Shehu.
Shehu noted that “as a former Federal Commissioner for Petroleum and Natural Resources, the President recalls with nostalgia that several signature projects, launched under his watch, which would have accelerated the growth of Nigeria’s economy, including the NLNG, had sadly suffered neglect and abandonment by succeeding administrations.
“For instance, the NLNG had the goal of establishing 12 trains by early 1980s but the project growth was stunted. So far, only six of those trains have been commissioned.
“However, with this signature project back on the cards, President Buhari strongly believes it is destined for his administration to complete the project.”