In furtherance of its efforts to deepen Nigeria’s domestic gas utilisation and enhance gas export in the country, the Nigerian National Petroleum Company Limited (NNPCL) has signed a Memorandum of Understanding (MoU) with a Norwegian firm, Golar LNG (GLNG), to build a Floating Liquified Natural Gas (LNG) plant in Nigeria
The Group Chief Executive Officer, NNPCL, Mele Kyari, and CEO, Golar LNG, Mr. Karl Fredrik Staubo, signed the agreement on behalf of their respective companies at a brief ceremony held at the NNPCTower in Abuja, this week.
Golar LNG is one of the world’s largest independent owners and operators of marine-based LNG midstream infrastructure that is active in the liquefaction, transportation, and regasification of natural gas.
Golar has a fleet of 16 LNG carriers and eight FSRUs. It has plans to expand into the broader LNG business by operating production facilities at the upstream end and participating in power projects at the downstream end.
When it takes off, the project is likely to support Nigeria’s gas expansion programme and the plan by the country to increase its LNG output level to meet domestic needs and meet the ramp in global gas demand.
The Nigeria NLG (NLNG) dropped from above 22 million metric tons per year (mmt/y) to about 14 mmt/y due to the activities of vandals and other economic sabotage thereby affecting its 10 percent share of the global LNG export market, in 2021, which has dropped to around five percent in 2023.