Nigeria has historically flared gas rather than developed the resource
Nigeria’s first FLNG project faces supply problem
The lack of a gas supply contract means the development is likely to face further delays
Nigeria’s chances of commissioning its first floating LNG (FLNG) export project as planned in 2028 may be undermined by the lack of a gas supply agreement. In September, the government licensed Nigeria’s UTM Offshore to build the facility—estimated to have a capacity of 2.8mt/yr—offshore Akwa Ibom state in the Niger Delta. UTM proposed sourcing feedstock from the Yoho offshore oilfield, previously controlled by ExxonMobil and now operated by Nigerian oil and gas producer Seplat Energy in partnership with the Nigerian National Petroleum Company (NNPC). UTM CEO Julius Rone said a draft gas supply agreement has been sent to Seplat and NNPC. However, the commissioning timetable is “not realistic
Also in this section
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
21 January 2025
The new president must put his cards on the table and tell the American people, and the world, if the US is formally abandoning the energy transition
