LNG

Nigeria LNG has taken the final investment decision to construct the long-awaited Train 7 project and associated facilities to increase output to over 30 million tonnes per annum and with a scheduled start-up in 2024.

Vitol, the global commodities company, has signed a 10-year deal with Nigerian LNG to buy 500,000 tonnes per annum as the Swiss-based trader expands its portfolio in the medium-term and spot cargo markets.

Nigeria LNG Ltd., the operator of world’s fifth-largest LNG export plant at Bonny Island on the Niger Delta, is in talks with major banks for $10 billion in project financing for the new seventh liquefaction Train.

The countdown to the start of the expansion project for Nigeria’s liquefied natural gas plant, with the building of a seventh Train, has started after the signing of the first accord on LNG after the February re-election of President Muhammadu Buhari that ended months of indecision.

Nigeria LNG, the company that runs the West African nation’s six liquefaction Trains at Bonny Island on the Niger delta, has taken the first steps towards constructing a seventh Train after years of delay by awarding engineering contracts and planning to raise $7 billion from the global financial markets.