Nigeria Signs 15-Year Gas Supply Agreement for UTM FLNG Project

The Nigerian government has finalized a 15-year gas supply agreement for the UTM Floating Liquefied Natural Gas (FLNG) project, securing a daily supply of 200 million standard cubic feet of gas. Executed by the NNPC/Seplat Energy Joint Venture and UTM FLNG Limited, this agreement is pivotal for moving toward the project's Final Investment Decision (FID).

This landmark deal is anticipated to stimulate regional economic growth, create jobs, and drive industrialization in the Niger Delta, furthering the federal government's economic reforms. The project is expected to reduce gas flaring, lower energy costs, and increase access to cleaner cooking gas for households.

The Pan-Niger Delta Forum (PANDEF) has expressed strong support for the agreement, emphasizing its importance for empowering indigenous operators and attracting investments. PANDEF aims to mobilize community support in Akwa Ibom State to facilitate the project's successful implementation.

The project, led by Dr. Julius Rone, is viewed as a model for indigenous enterprise backed by government policy.