The Nigerian National Petroleum Company Limited (NNPC Ltd.) has executed a Project Development Agreement (PDA) with Golar LNG for the deployment of a Floating Liquefied Natural Gas (LNG) offshore Niger Delta, Nigeria.

Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., in a statement on Tuesday said the agreement was in furtherance of the commitment to monetise Nigeria’s vast natural gas resources.

The signing ceremony was attended by the Chief Financial Officer, Umar Ajiya; Executive Vice President, Gas Power and New Energy, Olalekan Ogunleye and Executive Vice President, Upstream, Mrs Oritsemeyiwa Eyesan, all representatives of the NNPC Limited.

The Golar LNG team was led by Karl Staubo (CEO).

According to Soneye, the PDA is another major milestone achievement towards ensuring gas commercialisation through deployment of an FLNG Facility in Nigeria.

This, he said was in line with President Bola Ahmed Tinubu’s resolve to rapidly commercialise Nigeria’s gas assets for the economic prosperit
y of the Nation.

‘The agreement aims to monetise vast proven gas reserves from shallow water resources offshore Nigeria.

‘The PDA also outlines the monetisation plan that will utilise approximately 400-500mmscf/d and produce LNG, Liquefied Petroleum Gas (LPG) and Condensate,’ he said.

He said the Partners, NNPC Limited and Golar LNG have both expressed their commitment to achieve Final Investment Decision (FID) before end of Quarter Four (Q4), 2024 and first gas by 2027.

Golar LNG Limited is a renowned independent owner and operator of LNG infrastructure, including carriers, Floating Storage and Regasification Units (FSRUs), and Floating Liquefaction (FLNG) vessels.

Source: News Agency of Nigeria