The Nigerian Minister of State, Petroleum Resources (Gas), Hon. Ekperipe Ekpo, has announced the issuance of a license to a company for the construction of the country's first floating LNG (FLNG) facility. This landmark event took place during a ceremony in Abuja, where the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, presented the license to the company.
According to Ekpo, this license marks a historic milestone as the FLNG facility will be aimed at boosting Nigeria's gas production and utilization, in line with President Bola Tinubu's mission to grow the gas sector. "This is in line with the Decade of Gas Initiative, we are looking at gas driving the economy of this nation come 2030. We are going to achieve that," Ekpo said.
The FLNG facility, which will be located offshore in Akwa Ibom State (OML 104), is expected to process 324 million standard cubic feet per day (MMSCFD) of natural gas. Initially designed for a capacity of 1.2 million tons per annum (MTPA), the project has been upgraded to a capacity of 2.8 MTPA to meet the rising global demand for LNG.
NMDPRA Chief Executive Farouk Ahmed emphasized that the project aligns with the aspirations of the Petroleum Industry Act (PIA) 2021, the Decade of Gas Programme, and other gas expansion initiatives of the current administration. "It is projected to be commissioned in the year 2028. The products from the project include LNG, LPG, and condensate," Ahmed said.
The Minister of State, Petroleum Resources (Gas), praised the NMDPRA for its due diligence and the CEO of UTM LNG, Julius Rone, for the bold step taken to bring the project to fruition. Rone expressed gratitude to President Tinubu and the NMDPRA for their support, stating that the project has the capacity to bring 500,000 metric tons of LPG into the domestic market annually, which will help reduce the pressure on foreign exchange and the price of cooking gas.
This landmark development in Nigeria's gas sector is a significant step towards the country's ambitious goal of driving its economy through gas by 2030. The FLNG facility is expected to not only boost gas production but also improve gas utilization and availability within the domestic market, contributing to the government's efforts to provide affordable and reliable energy for its citizens.
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