NNPC, Golar LNG seal 500mmscf gas deal

. Eyes FID before year end

By Tochukwu Bliss, Abuja

In furtherance of its commitment to monetize Nigeria’s vast natural gas resources, the NNPC Limited said it has executed a Project Development Agreement (PDA) with Golar LNG for the deployment of a Floating Liquefied Natural Gas (LNG) offshore Niger Delta, Nigeria.

The signing ceremony, which took place on June 10th, was attended from the NNPC Limited side by the Chief Financial Officer, Umar Ajiya; Executive Vice President, Gas Power & New Energy, Olalekan Ogunleye; and Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan, while the Golar LNG team was led by its CEO, Karl Staubo.

The PDA is said to be another major milestone achievement towards ensuring gas commercialization through deployment of an FLNG Facility in Nigeria, which is in line with President Bola Tinubu’s resolve to rapidly commercialize Nigeria’s gas assets for economic prosperity.

A statement by the Chief Corporate Communications Officer, NNPC, Olufemi Soneye, said the agreement aims to monetize vast proven gas reserves from shallow water resources offshore Nigeria.

According to the statement, the PDA also outlines the monetization plan that will utilize approximately 400-500mmscf/d and produce liquefied natural gas (LNG), liquefied petroleum gas (LPG) and condensate.

The partners, NNPC Limited and Golar LNG have both expressed their commitment to achieve Final Investment Decision (FID) before end of Q4, 2024 and first gas by 2027.

Golar LNG Limited reputed as a renowned independent owner and operator of LNG infrastructure, including carriers, floating storage and regasification units (FSRUs), and floating liquefaction (FLNG) vessels.

The agreement aims to monetize vast proven gas reserves from shallow water resources offshore Nigeria.

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