THE Group Managing Director/CEO, UTM Offshore Limited, Mr. Julius Rone, said the final investment decision, FID, on Nigeria’s first $5 billion Floating Liquefied Natural Gas, FLNG project would be taken before the end of 2024.
Already, he said the engineering studies have been completed while the the Nigerian Downstream and Midstream Petroleum Regulatory Authority, NMDPRA, has also granted the approval to construct.
“We had a meeting with them in New York. We look forward to announcing the FID soon. We are very pleased with the level of aggregation of the debt and equity being arranged by the bank. “The project would create 7,000 direct and indirect jobs across the value chain, which means a lot of people, not only Nigerians but all over the world, would participate in this project. It should be noted that during the construction phase alone, over 25,000 jobs would be created. We would also take several Nigerian youths to different parts of the world where the construction and integration would take place for training.
“Currently, over 1.5 million tonnes are imported from the global market. The supply of our LPG in Naira would enhance the value of the local currency.
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