As part of its commitment to monetize Nigeria’s abundant natural gas resources, the Nigerian National Petroleum Commission NNPC, has signed a Project Development Agreement (PDA) with Golar LNG for the deployment of Floating Liquified Natural Gas offshore Niger Delta, Nigera.
This development was disclosed in a Press release by the company’s Cooperate Communication Officer, Olufemi Soneye, on Tuesday morning. Soneye revealed that the PDA, was signed on 400-500mmscf gas deal, and the company eyes FID Before the end of 2024.
The signing ceremony, which took place on Monday 10th June, 2024, was attended from the NNPC Limited side by the Chief Financial Officer, Umar Ajiya; Executive Vice President, Gas Power & New Energy, Olalekan Ogunleye and Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan while the Golar LNG team was led by Karl Fredrik Staubo (CEO).
Soneye described the PDA as a major milestone achievement towards ensuring gas commercialization through deployment of an FLNG Facility in Nigeria, which is in line with Mr. President Bola Ahmed Tinubu’s resolve to rapidly commercialize Nigeria’s gas assets for the economic prosperity of the Nation.
“The agreement aims to monetize vast proven gas reserves from shallow water resources offshore Nigeria. The PDA also outlines the monetization plan that will utilize approximately 400-500mmscf/d and produce LNG, LPG and Condensate.” Soneye explained.
Both NNPC Limited and Golar LNG expressed their commitment to achieve Final Investment Decision (FID) before end of Q4, 2024 and first gas by 2027.
Golar LNG Limited is a renowned independent owner and operator of LNG infrastructure, including carriers, floating storage and regasification units (FSRUs), and floating liquefaction (FLNG) vessels.
