The Federal Government has issued Licence to UTM offshore limited to construct the first offshore Floating liquefied natural gas Project which has the objective of establishing a Floating facility offshore in Akwa Ibom State.
The project will process 324 Million standard cubic feet per day of natural gas and produce 2.8million Tonnes Per Annum of Liquified Natural Gas.
UTM floating limited is a provider of top class marine logistics and supply chain services which support the ‘off-shore oil exploration and production.
Its mission is 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.
In February 2021, the Nigerian Midstream and Downstream Petroleum Regulatory Authority issued UTM Offshore a ‘Licence to Establish 1.2million tonnes of gas per annum facility by processing 176Million standard cubic feet per day.
The licence was renewed in August 2023 Due to an increase in the demand for Liquefied natural gas with an upgraded project’s capacity from 1.2 million tonnes of gas per annum.
The company subsequently applied for a License to Construct and submitted relevant Engineering Design Packages for the increased capacity.
After several reviews, the Nigerian Midstream and Downstream Petroleum Regulatory Authority is granting the company a ‘Licence to Construct Nigeria’s first floating LNG plant.
According to the man driving this ambitious gas initiative, The project will be commissioned in 2028 and it will include Liguefied natural gas, liquified petrol gas and condensate.
Mr. Julius Rone, described the milestone as a reflection of President Bola Tinubu’s vision to transform the country’s gas industry.
When completed, the facility would deliver 500,000 metric tonnes of Liquefied Petroleum Gas (LPG) into the domestic gas market.
The project they say aligns with the main aspirations of the PIA 2021 which include the expansion of Midstream Gas Facilities in Nigeria.
