The signing of the agreement took place at the NNPC
headquarters in Abuja.
In a statement by Garba Deen Muhammad, the chief corporate
communications officer of the company, NNPCL said the agreement is a step
towards bolstering Nigeria’s energy security and promoting the utilisation of
its abundant gas resources.
“In a major step towards bolstering Nigeria’s energy
security and promoting the utilisation of its abundant gas resources, the NNPC
Ltd and UTM Offshore Limited have today in Abuja signed a Heads of Terms (HoT)
agreement for the construction of the nation’s first indigenous Floating LNG
project,” the company said.
Describing the Floating LNG project as a “must-do”
initiative for Nigeria, the Group Chief Executive Officer of NNPCL, Mele Kyari,
restated the company’s readiness to secure gas feedstock towards the project.
Also speaking at the occasion, the Group Managing Director,
UTM Offshore Ltd, Julius Rone, expressed his delight at the partnership with
NNPC Ltd, noting that this milestone achievement showcased the capability of
indigenous companies to collaborate with world-class energy conglomerates to
drive growth in Nigeria’s energy sector.
He further explained that apart from significantly cutting
down on gas flaring and supporting the country’s commitment to reducing carbon
emissions, the project would also create over 7,000 job opportunities,
contributing to the nation’s economic growth and development.
In his remarks, the NNPCL Executive Vice President, Gas,
Power & New Energy, Mohammed Ahmed, said the project aligned perfectly with
NNPC Ltd’s goals of ensuring energy availability, affordability, and
sustainability while also generating revenue through exports.
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