Blog Post
Saipem joint venture EPC Contract for Nigeria LNG Train 7
May 14, 2020
Saipem, in joint venture with Daewoo E&C Co. Ltd and Chiyoda Corporation (SCD JV), has been awarded the contracts for the Engineering, Procurement & Construction of the Nigeria LNG Train 7 Project. The project will take place at the Bonny Island LNG complex in Nigeria. Saipem is the eader in SCD JV with a 60% share.
Saipem noted in a statement yesterday the overall value of the contracts is over 4 billion USD. Saipem’s share amounts to around 2.7 billion USD. The NLNG Train 7 Project consists of the construction of one complete LNG train and one additional liquefaction unit with a total capacity of approximately eight (8) MTPA, plus other extensive associated utilities and infrastructures.
Stefano Cao, Saipem’s CEO, said, “The investment decision by Nigeria LNG Limited, which includes several important energy companies, demonstrates that natural gas, in whose value chain Saipem has a recognized leadership, will be pivotal to the energy transition. The award of this contract contributes to increase the portion of non-oil-related backlog and confirms the overcoming of the link between Saipem’s share value and oil price”.
Nigeria LNG Limited is a limited liability company whose main shareholders are the Federal Government of Nigeria represented by the Nigerian National Petroleum Corporation (NNPC), Shell Gas B.V., Total Gaz Electricité France and Eni International (N.A.) N.V.S.a.r.l.
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