The Nigerian National Petroleum Corporation (NNPC) has signed a Project Development Agreement (PDA) with marine infrastructure company Golar LNG to deploy a floating LNG (FLNG) vessel in the Niger Delta region offshore Nigeria.
Signed on June 10, the PDA outlines plans to monetize approximately 400-500 million standard cubic feet of natural gas per day and produce LNG, LPG and condensate.
“The PDA is another major milestone achievement towards ensuring gas commercialization through the deployment of an FLNG facility in Nigeria, which is in line with President Bola Ahmed Tinubu’s resolve to rapidly commercialize Nigeria’s assets for the economic prosperity of the nation,” stated NNPC Chief Corporate Communications Officer, Olufemi Soneye.
The signing ceremony was attended by NNPC CFO Umar Ajiya; NNPC Executive Vice President for Gas, Power & New Energy Olalekan Ogunleye; NNPC Executive Vice President for the Upstream Oritsemeyiwa Eyesan; and Golar LNG CEO Karl Frederik Staubo.
The final investment decision for the project is expected to be reached before Q4 2024, with first production of gas expected by 2027.
