The Nigerian National Petroleum Corporation (NNPC) has signed a Project Development Agreement (PDA) with Golar LNG for the deployment of a floating Liquefied Natural Gas (LNG) facility offshore in the Niger Delta, Nigeria.
This initiative aligns with NNPC’s commitment to monetize Nigeria’s extensive natural gas resources.
In a statement, Olufemi Soneye, Chief Corporate Communications Officer of NNPC Limited, described the agreement as a significant milestone in the drive to commercialize gas through a new facility in Nigeria. This move supports President Bola Tinubu’s goal to rapidly leverage Nigeria’s gas assets for national economic growth.
The agreement aims to monetize Nigeria’s substantial proven gas reserves from shallow water resources offshore. The PDA details a plan to utilize approximately 400–500 million standard cubic feet per day (mmscf/d) to produce LNG, LPG, and condensate.
NNPC Limited and Golar LNG have both committed to achieving a Final Investment Decision (FID) by the end of Q4 2024, with the target of first gas production by 2027.
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