UTM seals gas sales pact with Seplat and NNPC for Yoho FLNG project

UTM Offshore has signed a state income statement (GSA) with Seplat Energy and the Nigerian National Petroleum Company (NNPC), marking a cardinal improvement successful plans for Nigeria's archetypal indigenous-led floating liquefied earthy state (FLNG) project.

The statement relates to state from the deepwater Yoho tract offshore Nigeria and moves UTM Offshore's task person to a last concern determination (FID), according to a property merchandise connected African Energy Chamber (AEC).

The FLNG installation is designed to process 176 cardinal cubic feet per time (mcf/d) erstwhile operational. Engineering and pre-construction enactment connected the task is already complete.

With the GSA present established, UTM Offshore is progressing towards a merchantability and acquisition statement and moving to execute an FID. The targeted commencement day for shipping liquefied earthy state (LNG) from the Yoho FLNG task is 2030, according to existent plans.

Financing arrangements are successful spot for the development, including indebtedness superior from Afreximbank and equity commitments from NNPC and the Delta State Government.

JGC Holdings and Technip Energies are assessing the engineering, procurement, construction, installation and commissioning contract, with their engagement supporting the project's question towards execution.

AEC enforcement president NJ Ayuk said: "The signing of this GSA demonstrates what is imaginable erstwhile indigenous companies, nationalist institutions and backstage investors enactment unneurotic toward a shared vision.

"UTM FLNG is much than an LNG project; it is simply a blueprint for however Africa tin commercialise its state resources done African leadership, make semipermanent economical worth and fortify vigor information portion supplying cleaner vigor to some home and planetary markets."

The Yoho task forms portion of Nigeria's Decade of Gas Initiative, which aims to modulation the state to a gas-driven system by 2030.

The programme seeks to trim state flaring, summation vigor entree and monetise Nigeria's 200 trillion cubic feet of proven state reserves.

In summation to exports, the Yoho FLNG task is structured to proviso astir 300,000t of liquefied petroleum state per twelvemonth to the Nigerian home market, supporting section vigor needs and reducing import dependence.

In September 2024, UTM Offshore received a licence to conception what it asserts volition beryllium the country's archetypal FLNG plant.

"UTM seals state income pact with Seplat and NNPC for Yoho FLNG project" was primitively created and published by Offshore Technology, a GlobalData owned brand.