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NNPC signs project development agreement with Golar LNG

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LNG Industry,

NNPC Ltd has executed a project development agreement (PDA) with Golar LNG for the deployment of a floating LNG (FLNG) offshore Niger Delta, Nigeria.

The signing ceremony, which took place on 10 June 2024, was attended from the NNPC Ltd side by the Chief Financial Officer, Umar Ajiya, Executive Vice President, Gas Power & New Energy, Olalekan Ogunleye, and Executive Vice President, Upstream, Oritsemeyiwa Eyesan, while the Golar LNG team was led by Karl Fredrik Staubo, CEO.

The PDA is another major milestone achievement towards ensuring gas commercialisation through deployment of an FLNG facility in Nigeria, which is in line with President Bola Ahmed Tinubu’s resolve to rapidly commercialise Nigeria’s gas assets for the economic prosperity of the Nation.

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 million ft3/d and produce LNG, LPG, and condensate.

The Partners, NNPC Ltd and Golar LNG have both expressed their commitment to achieve final investment decision (FID) before end of 4Q24 and first gas by 2027.

Golar LNG Limited is a renowned independent owner and operator of LNG infrastructure, including carriers, FSRUs, and floating liquefaction vessels.

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