UTM Floating LNG Ltd, JGC, Technip Energies, and KBR have signed a FEED contract for the construction of Nigeria’s first FLNG facility.
The $5-billion facility in block OML 204 offshore Nigeria is expected to process 176 million standard cubic feet of natural gas and condensate per day.
According to Chief Timipre Sylva, Nigerian Minister of Petroleum Resources, the FLNG project is a step forward in the right direction for the west African country to develop, exploit and monetise its over 209 trillion cubic feet of proven gas resources and a potential upside of 600 tcf of gas.
The minister added that gas will be Nigeria’s transition fuel and destination fuel, and will be a major component of the country’s energy mix by 2060.
Julius Dediare Rone, CEO and Chairman of UTM Offshore added that gas and FLNG will play a crucial role in helping the Nigerian government to meet its three priorities – security of supply, economic competitiveness, and a reduction of greenhouse gas emissions.
