Saipem-led JV nabs $4 billion Nigeria LNG Train 7 contract

A joint venture led by Italy’s Saipem has secured a $4 billion contract for Nigeria LNG’s seventh production unit at its Bonny Island plant.

Saipem has a 60 per cent stake in the venture that includes South Korea’s Daewoo E&C and Chiyoda of Japan.

The engineering, procurement and construction deal follows the signing of a letter of intent in September 2019.

Nigeria LNG said on Wednesday that all conditions for an FID to build the train have been met, including financing.

NLNG is a venture compromising of the Nigerian National Petroleum Corporation (NNPC 49%), Shell (25.6%), Total (15%) and ENI (10.4%).

Shell said in a separate statement that Nigeria LNG would fund the new processing unit without shareholder loans or shareholder equity requirements.

The NLNG Train 7 project consists of the construction of one complete LNG train and one additional liquefaction unit. The project also includes other associated utilities and infrastructures.

The new unit will add around 8 mtpa of capacity to the 22 mtpa Bonny Island facility.

The Saipem-led joint venture will start construction once the situation with Covid-19 coronavirus pandemic has stabilised, according to Shell.

Most Popular

Gastrade: Alexandroupolis FSRU remains offline due to technical issue

"For the moment, regasification services have been suspended due to a technical issue, for which we will provide further...

CMA CGM inks LoI for LNG-powered containerships

CMA CGM and CSSC's Jiangnan Shipyard recently signed the LoI, sources told LNG Prime on Wednesday. According to the sources,...

PetroVietnam Gas expects to award Thi Vai LNG expansion contract this year

This was revealed during a meeting between officials from PetroVietnam and PetroVietnam Gas on February 3, according to a...

More News Like This

Nigeria’s NNPC, partners to kick off work on five small-scale LNG plants

NNPC said the groundbreaking ceremony for the mini LNG plants will be held in Ajaokuta, Kogi state, on January...

Nigerian Railway plans more LNG-powered locomotives

NGC revealed this in a statement issued last week following a visit by the California State Transportation Agency (CalSTA). According...

Saipem consortium clinches $1.2 billion Tangguh UCC contract

The EPCI contract is part of the BP Berau-led integrated project known as Tangguh UCC, comprising of Ubadari field...

Chiyoda, CB&I reach deal with Golden Pass LNG for first train

Chiyoda revealed the signing of the agreement in a statement on Monday. The company said that the construction JV partners...