Garba Deen Muhammad, spokesperson for the NNPCL said in a statement that the agreement was a step towards bolstering Nigeria’s energy security and promoting the utilisation of its abundant gas resources.
“In a major step towards bolstering Nigeria’s energy security and promoting the utilisation of its abundant gas resources, the NNPC Ltd and UTM Offshore Limited have today in Abuja signed a Heads of Terms (HoT) agreement for the construction of the nation’s first indigenous Floating LNG project,” the statement said.
The agreement, described as a major step towards bolstering Nigeria’s energy security and promoting the utilization of its abundant gas resources, covers the 1.5 million tonnes per annum (mtpa) floating LNG project which is seen as a “must-do” initiative for Nigeria.
NNPC GCEO, Mele Kyari, expressed the company’s prepardness to secure gas feedstock towards the project.
Also speaking on the occasion, Julius Rone, Group Managing Director at UTM Offshore Ltd., stated that this milestone achievement showcased the capability of indigenous companies to collaborate with world-class energy conglomerates to drive growth in Nigeria’s energy sector.
Furthermore, he explained that 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.
Mohammed Ahmed, the NNPCL Executive Vice President, Gas, Power & New Energy, , said the project aligned perfectly with NNPCL’s goals of ensuring energy availability, affordability, and sustainability while also generating revenue through exports.