The Floating Liquefied Natural Gas, FLNG, facilities being spearheaded by UTM Offshore Limited, has been rated among top 20 oil and gas construction projects in sub Saharan Africa because of the great impact it would have on the gas industry in Nigeria and internationally.
In a statement by David Adebayo, a media expert, the rating was done recently by Adron Mason, a Lead policy analyst and programme administrator based in Washington DC in the United States.
According to him, “the project, which is located in Akwa Ibom State, is aimed at processing 324 MMSCF/D of natural gas and producing LPG, condensate, and 2.8 million tonnes of LNG per year.
“UTM was originally granted a license in 2019 to build a facility with a capacity of 1.2 million tons per annum. However, this capacity was later increased to 2.8 million tons due to rising demand for LNG in the market. Nigeria is seeking to reduce its dependence on oil by encouraging investments in its largely untapped gas reserves, estimated at 200 trillion cubic feet. Currently, a significant portion of the country’s gas output is either flared or re-injected into wells.
“The plant, located offshore in Akwa Ibom state in the oil-rich Niger Delta, is projected to be commissioned in 2028, with the production of first gas expected a year later. The facility will produce Liquefied Natural Gas (LNG), petroleum gas, and condensate.
Its mission, essentially to be a leading global provider of floating liquefied natural gas solutions, delivering sustainable and innovative solutions that meet the energy needs of the world, while minimizing environmental impact. This the company is gradually achieving.
“Recently the project got a global recognition among top 20 oil and gas construction projects-Sub Saharan Africa. The rating was done by Adron Mason, a Lead policy analyst and program administrator based in Washington DC in the US. Others listed among UTM Offshore Limited include LNG Hub Development by ExxonMobil, Mauritania-Morocco Hydrogen Pipeline, Bonny Island NLNG, Calabar to Kano Gas Pipeline, East African Crude Oil Pipeline, among others.
“The UTM Offshore Limited began its journey on the path of global competitiveness in July, 2012 when it was incorporated as a privately held Nigerian company. The company founded by Julius Rone stands at the forefront of Nigeria’s energy sector spearheading the development of the country’s inaugural floating liquefied natural gas (LNG) facilities.
“It would be the first floating LNG project in Nigeria projected to cost over $2 billion and would be the first of its kind in Nigeria.”
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