The Nigerian Liquefied Natural Gas (NLNG) Limited has started preparing for the future by putting in place measures to enable it consolidate on its position as a leading and reliable supplier of LNG in the world. The company disclosed this in Facts and Figures on Nigeria LNG Limited (NLNG) 2016, released earlier this month.

The NLNG Management assures on page 42 of the publication: “In line with its profile as a growing organisation, NLNG will continue to consolidate its position as one of the major and reliable suppliers of LNG in the world.”

It said that, along this line, the company has embarked on an expansion project that would involve a further increase of its trains. “NLNG’s expansion plan under the Train 7 Plus project, which will raise the liquefaction capacity to over 30 mtpa, continues to make progress toward a Final Investment Decision (FID). SPAs have already been executed with five buyers,” according to the publication. SPA stands for Sale and Purchase Agreements.

Throwing more light on the expansion project, NLNG Managing Director, Mr. Babs Omotowa, disclosed that the company would take a Final Investment Decision (FID) on Trains 7 and 8 before 2019.

“Already, $300 million has been spent on the project and with the tremendous support we have with this government, we believe that the FID for the Train 7 and Train 8 will come during this administration,” Omotowa said recently during in Lagos during the Public Presentation of Facts and Figures on Nigeria LNG Limited (NLNG) 2016.

He explained that this is the best time to embark on expansion despite the crash in global oil prices that inevitably rubs off on the gas business.

“We know the cycles of oil price and we have diversified our market,” the NLNG CEO said. “We look for opportunities and we have discovered that the best time to construct is when oil price is low. There is no better time to construct than now.”

News Express reports that NLNG started with a train in 1999 and grew rapidly over the years, adding five more trains to bring the number up to the present six.

•Photo shows an NLNG vessel.

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