The Floating Liquefied Natural Gas (FLNG) facilities spearheaded by UTM Offshore Limited have been rated among the top 20 sub-Saharan African oil and gas construction projects.
UTM Offshore Limited disclosed this in a statement yesterday by David Adebajo, noting that the facility will greatly impact the gas industry in Nigeria and internationally. The media expert explained that the rating was recently done by Adron Mason, a lead policy analyst and programme administrator based in Washington, D.C., United States.
According to him, the project, located in Akwa Ibom State, aims to process 324 MMSCF/D of natural gas and produce LPG, condensate, and 2.8 million tonnes of LNG per year. UTM was originally granted a licence in 2019 to build a facility with a capacity of 1.2 million tonnes per annum.
He said, “However, this capacity was later increased to 2.8 million tonnes due to rising demand for LNG in the market.
Nigeria seeks to reduce its dependence on oil by encouraging investments in its largely untapped gas reserves, estimated at 200 trillion cubic feet. Most of the country’s gas output is flared or reinjected into wells. The plant, located offshore in Akwa Ibom State in the oil-rich Niger Delta, is projected to be commissioned in 2028, with the production of first gas expected a year later. The facility will produce liquefied natural gas (LNG), petroleum gas, and condensate. Its mission is to be a leading global provider of floating liquefied natural gas solutions, delivering sustainable and innovative solutions that meet the world’s energy needs while minimising environmental impact. This, the company is gradually achieving.’’
