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Shell poised for investment in Nigeria LNG venture

Shell poised for investment in Nigeria LNG venture

|About: Royal Dutch Shell plc (RDS.A)|By: , SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) says all conditions have been met for the final investment decision on a new liquefied natural gas processing unit at Nigeria LNG, including a formal commitment from the groups expected to provide financing for the project.

Nigeria LNG is a joint venture, with 49% owned by Nigerian National Petroleum, 26% by Shell, 15% by Total (NYSE:TOT) and 10% by Eni (NYSE:E).

Once operational, the new unit Train 7 will add 8M metric tons/year of capacity to the Bonny Island facility, taking the total to ~30M mt/year.

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