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Wednesday, June 12, 2024
Nigerian state firm NNPC Limited has executed a Project Development Agreement (PDA) with Golar LNG for the deployment of a Floating Liquefied Natural Gas (LNG) offshore Niger Delta.
NNPC states “the PDA is another 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 400-500 mmscf/d and produce LNG, LPG and Condensate.
The signing ceremony took place on June 10 and was attended by executives from both companies. The Partners, NNPC Limited and Golar LNG have both expressed their commitment to reach a Final Investment Decision before the end of Q4 this year and achieve first gas by 2027.
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