NNPC, firm sign pact on floating LNG project

*Project will create 7,000 jobs, contribute to Nigeria’s growth – Firm

The NNPC Ltd and UTM Offshore Limited on Thursday in Abuja signed a Heads of Terms (HoT) agreement for the construction of the nation’s first indigenous Floating LNG project.

The NNPC described it as a major step towards bolstering Nigeria’s energy security and promoting the utilization of its abundant gas resources.

The Group Chief Executive Officer, NNPC Ltd, Mele Kyari, described the Floating LNG project as a “must-do” initiative for Nigeria.

Kyari, in a statement by the Chief Corporate Communications Officer, Garba Deen Muhammad,
expressed the company’s readiness to secure gas feedstock towards the project.

The Group Managing Director, UTM Offshore Ltd, Julius Rone, who expressed delight at the partnership, said, “Apart from significantly cutting down on gas flaring and supporting the country’s commitment to reducing carbon emissions, the project would also create over 7,000 job opportunities, contributing to the nation’s economic growth and development.

Rone said, “This milestone achievement showcased the capability of indigenous companies to collaborate with world-class energy conglomerates to drive growth in Nigeria’s energy sector*.

In his remarks, NNPC Ltd’s Executive Vice President, Gas, Power and New Energy, Mohammed Ahmed, said the project aligned perfectly with NNPC Ltd’s goals of ensuring energy availability, affordability and sustainability while also generating revenue through exports.

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