Nigeria’s first floating LNG plant signed a 15-year deal for 200 million cubic feet of gas a day from NNPC and Seplat, eyeing investment approval in 2026.
NIGERIA · ENERGY
Key Facts
—The deal: UTM Offshore signed a 15-year agreement with NNPC and Seplat Energy for 200 million standard cubic feet of gas a day, feedstock for Nigeria’s first indigenous floating LNG project.
—The site: The plant will moor at the Yoho field, OML 104, offshore Akwa Ibom State, and liquefy 1.8 million tonnes of LNG a year.
—The cost: The project is estimated at about $3 billion, with debt from Afreximbank and equity from NNPC and the Delta State government.
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