Tinubu ‘ll Revamp Nigeria’s Economy, Boost Energy Sector, Says Rone, FLNG Boss

A leading gas company, UTM Offshore Ltd, owner of Nigeria’s first Floating Liquified Natural Gas (UTM FLNG) company has x-rayed the policy thrust of the President Bola Ahmed Tinubu administration and expressed optimism that the administration would revamp the nation’s productive sector.

The Managing Director of UTM Offshore Ltd, Dr. Julius Rone, at the weekend said Tinubu’s commitment while speaking to international oil and gas stakeholders at the sideline of the just concluded 78th Session of the United Nations General Assembly in New York, USA, was a major boost to the Nigerian energy sector.
The UTM boss hinted that leveraging on the policies of the administration, his company has intensified collaborations with world-class energy conglomerates as part of its effort to ensure affordable gas in the country.

Rone, who had already signed a Head of Terms (HoT) with the Nigerian National Petroleum Company (NNPC) Limited as well as Front End Engineering Design contract with JGC Corporation of Japan, Technip Energies of France and Kellog Brown & Root KBR of United Kingdom, believes that such collaboration would leapfrog gas production, drastically reduce the price of gas for home, automobile and industrial use, provide jobs as well as lower gas flaring and its attendant hazards in the country.

He expressed confidence in the ability of indigenous energy companies to collaborate with other conglomerates across the world to fast-track the development of the Nigerian gas sector.
The UTM MD assured that the floating LNG project would create over 7,000 jobs opportunities and support other efforts to accelerate the nation’s economic growth in line with the commitment and policy thrust of the Tinubu-led administration.
He said when completed the facility would produce, on annual basis, 1.5 million tonnes of LNG for export, 300,000 metric tonnes of LPG for domestic market and some quantities of condensate.

He commended the Tinubu administration for its commitment in providing access to clean, accessible, affordable, available and abundant energy for all Nigerians and reiterated UTM’s commitment to partner the federal government to realise this agenda.

Tinubu had while speaking to officials of the global transnational Oil and Gas giant, ExxonMobil on the sidelines of the United Nations General Assembly in New York, USA last week, gave assurance that the federal government was poised to solve the challenges of the oil and gas sector in Nigeria.

“Despite many contending obligations, I’ll sit and oversee the process of removing these encumbrances to job and wealth creation for the Nigerian people…We know the industry. We grew up. We are positioned to solve the problems and we are pragmatic and we’ll solve the problem”, the president had assured the international stakeholders according to a statement issued by Presidency