The Nigerian National Petroleum Company (NNPC) has executed a project development agreement (PDA) with Golar LNG for the deployment of a floating LNG (FLNG) facility offshore the Niger Delta in Nigeria.
The PDA is a ‘major milestone’ towards ensuring gas commercialisation and in line with President Bola Ahmed Tinubu’s resolve to commercialise Nigeria’s gas assets for the prosperity of the nation, according to a statement.
The agreement aims to monetise large proven gas reserves from shallow water resources offshore Nigeria. The PDA also outlines the monetisation plan that will use around 400-500 mmscfd and produce LNG, LPG and condensate.
The partners have expressed their commitment to achieve final investment decision (FID) before the end of Q4 and first gas by 2027.
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