NLNG to Construct the First Major Shipyard in Nigeria

Monday / June 22, 2015

NLNG to Construct the First Major Shipyard in NigeriaWith an aim to turn the country into a hub for maritime operations, Nigeria Liquefied Natural Gas Company (NLNG) proposes to spend $1.5 billion in the construction of the first major ship yard in Nigeria.

Nigeria ranks as the eighth biggest crude producer and Africa’s top oil exporter but it does not have a drydock for maintaining and repairing large crude vessels, a major disadvantage for carriers sailing to the country, said Tony Okonedo, a NLNG spokesman. Only South Africa is a provider of such facility on the continent. He also said Nigeria has two facilities that can only accommodate small vessels.

Samsung Heavy Industries and Hyundai Heavy Industries have both agreed to invest $30 million towards the construction of the facility which would be located in Badagry, near Nigeria’s commercial capital of Lagos. It could potentially be used to transport the 2.5 million barrel a day crude business in Nigeria, Tony added.

The construction of the dry dock, with a size that can hold 185 football fields, will take up to 48 months and would commence once all the funding was in place. Tony also said that NLNG, which is owned by Nigeria’s state-oil company NNPC, Royal Dutch Shell, French Oil Company Total and Italy’s ENI was in discussions with an intentional investor for the project.

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