- Nigerian firm signs technical partners for Nigeria’s first Floating Liquefied Natural Gas.
- Afreximbank partners with UTM Offshore Limited for FLNG.
Nigeria’s transition to clean energy has taken a new turn as an indigenous company signs an agreement with Technical Partners to design its first Floating Liquefied Natural Gas (FLNG). At the Hilton Park Lane in London, UK, UTM Offshore Limited executed a contract with three technical partners, Kellogg Brown and Root (KBR), Japan Gas Corporation (JGC), and Technip Energies Limited, for the kick-off of the Front End Engineering Design (FEED) for the FLNG facility.
This contract is a sequel to the executed pre-FEED Agreement with JGC and KBR in May 2021 for an investigation and definition of JGC’s deliverables. The FEED contract involves carrying out a feasibility study to ascertain the technicalities of the Project and estimated cost of investment before the Engineering, Procurement, and Construction phases commence. The expected timeframe for the study is ten months.
At the signing ceremony, the Managing Director and Chief Executive Officer of UTM Offshore Limited, Mr. Julius Rone, lauded President Muhammadu Buhari for making gas development and utilization a national priority aimed at improving the energy mix, driving investments, and creating job opportunities for economic growth; and aligned with him on the need to harness Nigeria’s abundant gas resources.
Nigeria’s Minister of State for Petroleum Resources, High Commissioner to the United Kingdom, Ambassador, and other representatives reiterated the federal government’s commitment to continue to support and create enabling environment for business investments in the country, especially in the area of gas development.
President of African Export-Import Bank (Afreximbank), Prof. Benedict Oramah, also pledged his unwavering support to the Project as the Bank had signed a $5bn MoU for the financing of the FLNG facility.