South Korea’s Daewoo Engineering & Construction has begun full-fledged construction of a $5 billion project to build an LNG liquefaction plant and additional facilities in Rivers State, Nigeria.

The ground-breaking ceremony was attended by Nigeria’s President Muhammadu Buhari, Petroleum Resources Minister, and other high-level officials.

The NLNG Train 7 located at Bonny Island, about 25 miles south of Port Harcourt in Rivers State, will produce 8 million tons of LNG per year.

Daewoo E&C set up a joint venture with Italy’s Saipem and Japan’s Chiyoda in May last year for the $5 billion project. Daewoo E&C which controls about 40 percent of the JV will carry out all major tasks as a main engineering, procurement and construction (EPC) contractor.

The JV has so far focused on design and procurement as initial construction was interrupted by the impact of the coronavirus pandemic.

Daewoo E&C said the project is progressing faster than planned and it expects an additional order for another liquefaction plant there.

By Pulse

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