UTM FLNG Secures 15-Year Gas Supply Agreement with NNPC/Seplat
UTM Floating Liquefied Natural Gas Limited has signed a 15-year gas supply agreement with NNPC/Seplat for 200 million standard cubic feet per day. This deal is pivotal for financing Nigeria's first indigenous floating LNG project and is expected to facilitate a Final Investment Decision by Q4 2026.
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UTM FLNG Limited has finalized a 15-year Wet Gas Sale and Purchase Agreement with the NNPC/Seplat Energy Joint Venture, securing a supply of 200 million standard cubic feet of gas daily. This arrangement is crucial for advancing financing and initiating construction of Nigeria's first indigenous floating LNG project, projected to reach a Final Investment Decision by the fourth quarter of 2026.
The project, located offshore Akwa Ibom State, aims to monetize stranded gas resources and enhance Nigeria's LNG export capacity. The shareholding includes UTM Offshore Limited (72%), NNPC Limited (20%), and Delta State Government (8%). This agreement reflects the Federal Government's commitment to fostering a competitive investment environment and advancing the Decade of Gas initiative, which is essential for economic growth and energy security.
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