1 week Ago By Baba Martins
The federal government has officially granted UTM FLNG Limited “License to Construct (LTC)” Nigeria’s first Floating Liquefied Natural Gas (FLNG) facility, expected to be Africa’s...
By Baba Martins T he federal government has officially granted UTM FLNG Limited “License to Construct (LTC)” Nigeria’s first Floating Liquefied Natural Gas (FLNG) facility, expected to be Africa’s largest crude oil producer, in the global gas market. The issuance of the LTC to UTM FLNG by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) last Friday came as a major fulfilment of the assurance by President Bola Tinubu in July, 2023, to give all necessary support to the Nigerian company to ensure the actualisation of the landmark gas project. Tinubu had during an audience with the management of the company and its foreign partners at the State House, Abuja, pledged to remove all impediments to the timely completion of the facility.
Meanwhile, the UTM FLNG plant, with a capacity of 2.8 million tonnes per annum (MTPA), will produce Liquefied Natural Gas (LNG), Liquefied Petroleum Gas (LPG) and condensate from re-injected gas at the OML 104 Yoho Field. The project represents a significant step forward in Nigeria’s energy sector, enhancing the country’s ability to harness its untapped 209 trillion cubic feet of natural gas for both export and domestic consumption.
This is expected to leapfrog the national economy by ensuring availability of gas at lower cost, generate massive employment and multi-million naira business opportunities for Nigerians and other nationals. Speaking at the event in Abuja attended by key industry players, including the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, the Chief Executive Officer of NMDPRA, Engr Farouk Ahmed, said the LTC signing ceremony “marks a significant milestone and aligns with the gas expansion ambitions of the government” as contained in the Petroleum Industry Act (PIA) 2021. Farouk noted that the FLNG was a yield of President Tinubu’s effort in the expansion of the midstream gas sector, adding that the federal government under Tinubu administration would continue to give all necessary support and conducive environment for the firm to operate.
The Group Managing Director of UTM FLNG Limited, Dr Julius Rone, expressed gratitude to Tinubu for his “unwavering support to the gas sector and the UTM FLNG project in particular. Rone stated that the project aligned with the president’s promise to develop Nigerian gas resources as a source of sustainable energy and economic development for the country. Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.
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