The Nigeria Liquefied Natural Gas Limited (NLNG) has sought the support of the Federal Government for its proposed Trains 7& 8, a vehicle that it intends to leverage to expand the frontiers of processing and exporting gas globally.
Its former Managing Director, Mr. Godswill Ihetu, said investing in gas processing and exporting is an ambitious one, which requires the support of its shareholders, adding that financial and material support from major partners are needed to achieve the desired result of sourcing for new markets to boost the NLNG earnings.
Ihetu told The Nation that Trains 7& 8 is a multi-billion dollar project that will boost the nation’s economy when it is completed, adding that Nigeria LNG is taking its time on the issue in view of its cost implications, approval from the government and building the plants.
He said: “It is difficult stating the amount of money that would be expended on the project due to the sensitive nature of the oil and gas industry, more so, when NLNG has not mentioned the amount of money, which Trains 7&8 would gulp. The NLNG do not have a reliable figure yet, but given the fact the six Trains cost $9.4billion, one can have an idea of the cost of the proposed Trains, when one calculates and adds the inflation cost in the last few years the existing trains were installed.”topics from