Trains 7&8 will cost over $9.4b – Ex-NLNG MD

More than $9.4billion will be spent by the Nigeria Liquefied Natural Gas (NLNG) to finance the construction of Trains 7&8. The trains would be used to export Liquefied Natural Gas (LNG) to interested buyers/nations, its former Managing Director, Mr Godswill Ihetu, hinted.

He said the firm was awaiting Financial Investment Destination (FID), with a view to building the LNG plant, where the gas would be kept for exportation. In an interview at the weekend, he said building the two trains require significant funding and technical expertise. He said as a result, it would be difficult for the company to give unreliable figures on the cost of the projects.

He said the NLNG’s shareholders, mainly the Nigerian National Petroleum Corporation (NNPC), Shell, Total and Eni, are expected to approve the FID in line with laid down principles of the firm, before the building of the trains begins.

Source: The Nation

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