The Nigerian National Petroleum Corporation along with Shell Petroleum Development Company of Nigeria, Total Exploration and Production Nigeria, and others have signed 2 deals deepening their joint venture partnerships.
One of the deals is the first basic 20-year term of gas supply agreements for the Nigerian Liquified Natural Gas Train 7. Another is the 10-year term for gas supply agreements for Trains 1, 2, and 3.
Group Managing Director of the NNPC, Mele Kyari said that the agreement signalled the commitment of all to the gas project in the country.
Kyari further disclosed that the project would form part of the investment of over $19 billion including the upstream scope of the NLNG value chain, thereby boosting the much needed final investment decision profile of Nigeria.
It is expected that the project could create over 10,000 new jobs during the construction phase. On completion, the project would also help mop up more gas that would have been flared and diversify the country’s portfolio