NNPC Signs 500mmscf/d FLNG Deal, Eyes FID Before December

Emmanuel Addeh in Abuja

The Nigerian National Petroleum Company Limited (NNPC) last night said it had executed a Project Development Agreement (PDA) with Golar LNG for the deployment of a Floating Liquefied Natural Gas (LNG) offshore Niger Delta, Nigeria.

The national oil company stated that this was in furtherance of its commitment to monetising Nigeria’s vast natural gas resources, a statement by the Chief Corporate Communications Officer, Olufemi Soneye, said.

The signing ceremony was  attended from the NNPC 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 Karl Fredrik Staubo, its chief executive.

The PDA, it said, was another major milestone achievement towards ensuring gas commercialisation through the deployment of an FLNG Facility in Nigeria.

It said that this was is in line with  President Bola Tinubu’s resolve to rapidly commercialise Nigeria’s gas assets for the economic prosperity of the Nation.

“The agreement aims to monetise vast proven gas reserves from shallow water resources offshore Nigeria. The PDA also outlines the monetisation plan that will utilise approximately 400-500mmscf/d and produce LNG, 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,” it said.

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