Nigeria’s state firm, NNPC, partners with Golar LNG to launch a floating LNG vessel off Nigeria’s Niger Delta coast.
Nigeria, Africa’s top oil producer, holds the continent’s largest gas reserves of more than 200 million trillion cubic feet and is seeking investments to boost output.
NNPC spokesperson Olufemi Soneye said the Project Development Agreement (PDA) will utilize about 500 million standard cubic feet of gas per day, producing LNG, propane, and condensate.
“The agreement aims to monetize vast proven gas reserves from shallow water resources offshore Nigeria,” Soneye said in a statement.
Soneye said NNPC and Golar LNG have agreed to achieve a final investment decision (FID) on the project before the end of the year, with production expected to start in 2027.
The deal is the second floating LNG accord the NNPC has signed with partners in the past year and follows two other LNG agreements with investors to increase its domestic supplies and exports.
To address inadequate processing infrastructure and eliminate gas flaring, Nigeria launched a national gas expansion program in 2020 to boost local gas utilisation.
