Nigeria to Spend 5 Billion Dollars on Gas Production
Posted on: Thursday, 8 September 2005, 09:00 CDT
Nigeria to spend 5 billion dollars on gas production
LAGOS, Sept. 7 (Xinhua) -- Nigeria's liquefied natural gas company NLNG is to spend 5 billion US dollars on two more trains as part of its expansion program, an official source said Wednesday.
The two trains are expected to come on board in 2010, the source was quoted by the official News Agency of Nigeria as saying.
According to the source, the company is considering the final investment decision on the additional trains and will agree on a date for the signing after due consultation.
"The company has so far spent 12 billion dollars on six trains and the two extra trains will be built by 2010," the source added.
The NLNG, which commenced commercial operations, is a joint venture involving the state-owned Nigerian National Petroleum Corp. , Royal Dutch Shell, France's Total and Italy's Agip, aimed at utilizing the nation's huge gas reserves, the ninth largest in the world.
Source: Xinhua News Agency - CEIS
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