NNPC Ltd. and partner UTM Offshore Limited have reiterated their commitment to fast-track the 1.8 million tonnes per annum capacity Floating Liquefied Natural Gas (FLNG) project in Nigeria. Engr. Bashir Bayo Ojulari, Group Chief Executive Officer of NNPC Ltd., made this pledge when he received a delegation from UTM FLNG Ltd., led by Julius Rone, OFR, Group Managing Director, during a strategic partnership visit.

The discussions focused solely on the 1.8 million tonnes per annum capacity Floating Liquefied Natural Gas (FLNG) project, with special emphasis on finalizing the agreements and accelerating project execution, in proportion to the partners' investment portfolios.

The GCEO further highlighted the need to speed up the Final Investment Decision (FID), noting the equity stakes among the three parties, NNPC Ltd. (with a 20% stake), UTM Offshore Limited, and the Delta State Investment Development Agency (with an 8% stake), to ensure proportionate offtake aligned with investments.

The $5 billion UTM FLNG project offshore Nigeria is currently in its pre-construction phase. Rone emphasized that indigenous players like UTM Offshore are capable of forming the right partnerships to drive development, with plans to take FID in the coming months, move into the construction phase and expand the company’s FLNG technologies beyond Nigeria into other African markets.

The target completion date of the FLNG project is 2028 and it hopes to contribute about 450,000 tonnes of liquified petroleum gas (LPG), otherwise known as cooking gas per annum to the domestic market. This will assuage Nigeria’s average demand of about 1.5 million tonnes of LPG per annum and reduce the dependence on the importation of LPG.