President Asiwaju Bola Ahmed Tinubu approves French, Japanese firms UTM FLNG, TECHNIP Energies, and JGC Corporation for Nigerian floating liquids development.
The president has given his full support to the joint venture partners of UTM FLNG, TECHNIP Energies, and JGC Corporation in Abuja. Julius Rone, UTM FLNG’s delegation leader, revealed multi-floating LNGs are being implemented with a $5 billion loan from AFRIEXIM Bank.
According to the president, his administration will extend full support to the project as it aligns with his programme to resuscitate the economy and generate more employment opportunities. During the announcement, Rone unveiled that the project has the impressive capacity to produce an astounding 300,000 tonnes of Liquefied petroleum gas (LPG or LP gas) per year, which has the potential to provide a significant boost to the Nigerian economy. Additionally, the project is expected to create 7,000 direct jobs for Nigerian citizens, offering a much-needed source of employment for many.
He stated that this particular project would mark the debut of a local company’s involvement in Nigeria and would contribute to decarbonization efforts. Nigeria’s first floating Liquefied natural gas (LNG) project will launch in Q1 2026.
