By Damilare Adeleye
The Nigerian National Petroleum Company Limited (NNPCL) and UTM Offshore Limited have, on Thursday, signed a Heads of Terms (HoT) agreement for construction of Nigeria’s first indigenous Floating LNG project.
The deal was signed in Abuja, the nation’s capital, to ensure “bolstering Nigeria’s energy security and promoting the utilization of its abundant gas resources.”
In a statement by Garba Deen Muhammad, the NNPCL Chief Corporate Communications Officer, Mele Kyari, the NNPC Ltd Group Chief Executive Officer, vowed commitment towards the initiative, while expressing the “company’s readiness to secure gas feedstock towards the project.”
According to the statement, Julius Rone, the Group Managing Director, UTM Offshore Ltd, “expressed his delight at the partnership with NNPC Ltd, stating 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.”
“He further 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,” the statement added.
Meanwhile, Mohammed Abdulkabir Ahmed, the NNPC Ltd.’s Executive Vice President, Gas, Power & New Energy, stated that “the project aligned perfectly with NNPC Ltd.’s goals of ensuring energy availability, affordability, and sustainability while also generating revenue through exports.”