The Nigerian National Petroleum Company (NNPC) Limited and UTM Offshore Limited have signed heads of terms agreement for the UTM floating liquefied natural gas (FLNG) project.
The Nigerian National Petroleum Company Limited and UTM Offshore Limited have signed a heads-of-terms agreement for the UTM floating liquefied natural gas project.
The signing ceremony, which took place on Thursday at NNPC’s headquarters in Abuja, is a collaborative effort between both companies to provide clean energy to Nigerians.front-end engineering design of the project is already underway in Lagos, Yokohama, and Paris; with JGC Holdings, Technip, and indigenous companies acting as consultants.“Final investment decision is expected to be taken in the fourth quarter of 2023 with planned project startup in the fourth quarter of 2026.
“The facility, which will be located about 60km offshore at 64m water depth, will be built by reputable engineering companies — JGC of Japan and Technip of France — with the support of KBR as the owners engineer.“It is worthy of note that the two contracting companies and KBR were the consortium that built the six existing LNG Trains for Nigerian LNG Ltd.
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