The Nigerian National Petroleum Company Limited has executed a Project Development Agreement with Golar LNG for the deployment of a floating liquefied natural gas offshore the Niger Delta, Nigeria.
 
The Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, said in a statement on Tuesday that the agreement was in furtherance of the commitment to monetise Nigeria’s vast natural gas resources.

The signing ceremony was attended by the chief financial officer, Umar Ajiya; executive vice president, gas power & new energy, Olalekan Ogunleye; and executive vice president, upstream, Oritsemeyiwa Eyesan, all representatives of NNPC Limited.

The Golar LNG team was led by Karl Staubo (CEO).

According to Mr Soneye, the PDA is another major milestone achievement towards ensuring gas commercialisation through the deployment of an FLNG facility in Nigeria.
 
This, he said, was in line with President Bola Ahmed Tinubu’s resolve to rapidly commercialise Nigeria’s gas assets for the economic prosperity of the nation.
 
He said, “The agreement aims to monetise vast proven gas reserves from shallow water resources offshore Nigeria. The PDA also outlines the monetisation plan that will utilise approximately 400–500 mmscf/d and produce LNG, liquefied petroleum gas (LPG) and condensate.”

 He said the partners, NNPC Limited and Golar LNG, both expressed their commitment to achieving the final investment decision before the end of quarter four (Q4) 2024 and the first gas by 2027.
 
Golar LNG Limited is a renowned independent owner and operator of LNG infrastructure, including carriers, floating storage and regasification units and floating liquefaction (FLNG) vessels.

(NAN)