News

June 17, 2020

Nigeria’s LNG market share drops over delay in Train-7

NLNG
LNG

By Udeme Akpan

THE Nigeria LNG Limited, yesterday, disclosed that the delay in the construction of LNG Train-7 has led to a drop in Nigeria’s global market share to seven percent from 10 percent.

The company said it took more than 15 years after the completion of work on Train-6 to make progress in the current Train-7, which Engineering Procurement and Construction, EPC, contract was recently awarded to Saipem, in joint venture with Daewoo E&C Co. Ltd and Chiyoda Corporation (SCD JV).

The Managing Director/CEO, NLNG Limited, Mr. Tony Attah, who disclosed this at the just concluded webinar on, ‘Spotlight on LNG Train-7’, said: “Essentially, it has taken more than 15 years to finally get Train-7 going. For me personally, it is very emotional because between 1999 and 2006, we were the fastest growing LNG Company in the world.

READ ALSO: NLNG explains Train-7 delay

“Just after our Train-6, all the attempts to get to Train-7 failed. During the 15 years, we dropped from controlling 10 percent of the market to less than seven per cent.”

He added: “With the arrival of the United States and Australia, the market has completely changed. But we are happy to have started work on the Train-7. We got a lot of support from the presidency under the leadership of President Muhammadu Buhari. When we visited him, the president, who was part of the project from its early stage, he wondered why we were still on Train-6.

“The president, who expected us to have completed our Train-12, promised to support our expansion programme. We also got a lot of support from the Minister of State for Petroleum Resources, Mr. Timipre Sylva, who has actually declared 2020 as the year of gas in Nigeria.”

Vanguard