Gas Drives 39% Deals As NOG Week Records $4.5bn Energy Investments

Gas-focused projects took centre stage at this year’s NOG Week, accounting for 39% of deals as organisers announced a record $4.5 billion in energy investments.

Organisers of the NOG Energy Week, dmg Nigeria Events, which made this known, stated that gas and LNG accounted for the largest share of the total value at roughly 39 per cent, followed by upstream at 31 per cent, midstream at 16 per cent, engineering and technology at 10 per cent and downstream at four per cent.

Dmg Nigeria noted that themed “Forging Africa’s Strategic Energy Growth Through Global Collaboration,” this year’s edition, which held from July 5 to July 9, 2026, converted a week of dialogue among senior government officials, regulators, national and international energy companies, investors, financiers and technology providers into binding commitments across the energy value chain.

They said the composition showed capital was prioritising gas development to spearhead Africa’s energy transition as deals signed during the Energy Alliance session had further buttressed that position.

Among the deals at the event was NNPC Limited and Seplat Energy’s joint venture signing of a 15‑year Gas Sale and Purchase Agreement with UTM FLNG Limited to supply 200 million standard cubic feet of gas per day.

They said the agreement positioned Nigeria’s first floating LNG project for a final investment decision in the fourth quarter of 2026.

Delegates at the Energy Alliance session said gas-focused deals were driving the market.

“Natural gas is the indispensable bridge between energy security and sustainability,” minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo said, adding that the week’s commitments demonstrated that balance in practice.

Also, an ExxonMobil affiliate, Esso Exploration and Production Nigeria, with partners Chevron, TotalEnergies and Nexen, announced a US$1 billion investment commitment to the Usan Infill Project, a fast‑track deepwater development expected to add about 40,000 barrels per day — ExxonMobil’s first major drilling campaign in Nigeria since 2016.

Organisers said NNPC had also signed a memorandum of understanding and a Gas Sale and Aggregation Agreement with Ajaokuta Steel Company Limited, and had concluded network entry agreements with Chevron Nigeria Limited, AGPC and NNPC Exploration & Production Limited.

NNPC’s group chief executive officer, Bashir Bayo Ojulari, said the agreements were “not just about signing agreements. It is about igniting the engine of Nigeria’s industrialisation.”

Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, said he was grateful to the visionaries who founded NOG Energy Week 25 years ago and that the forum had become the place where Nigeria’s energy future was negotiated.

Dmg Nigeria Events said that for 25 years NOG Energy Week had been the meeting point where Nigeria’s oil and gas industry negotiated its future — from building consensus around reform to creating an investment‑attractive business environment — and that each edition had compounded the trust and relationships required for transactions of this magnitude.

Commenting on the event, portfolio and country director at dmg Nigeria Events, Wemimo Oyelana, said NOG Energy Week existed to “spark the partnerships that move energy projects from ambition to delivery.”

She said every deal signed represented capital, jobs and energy security for Nigeria and the continent.

Organisers said the event — which attracted about 7,500 attendees, 300 exhibitors and delegates from 85 countries — had moved from agenda‑setting to deal‑closing.