UTM Offshore Floating Liquefied Natural Gas (FLNG), Nigeria’s pioneering indigenous company in the field, has announced its transition to the crucial Engineering, Procurement, Construction, Installation, and Commissioning (EPCIC) phase of its groundbreaking project.
Dr. Julius Rone, the Managing Director and CEO of UTM, revealed this significant milestone during a productive visit to Mr. Felix Ogbe, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), held at the board’s headquarters in Yenagoa, Bayelsa State.
Rone expressed gratitude for the comprehensive support provided by NCDMB throughout the project’s progression, emphasizing adherence to international standards at every stage. He highlighted UTM’s achievement as the first indigenous African company to embark on a floating LNG venture, underscoring the project’s adherence to global benchmarks.
Acknowledging NCDMB’s instrumental role, Rone credited the board for facilitating approvals and technical assistance, pivotal for advancing the project to its current stage. He shared optimism about the project’s timeline and its anticipated contributions to Nigeria’s energy sector upon completion.
In response, Ogbe applauded UTM’s bold initiative and reaffirmed NCDMB’s commitment to facilitating the project’s successful execution. He reiterated the board’s dedication, in alignment with President Bola Tinubu’s directives, to foster an enabling environment for indigenous companies like UTM FLNG to prosper, thereby bolstering national economic interests.
Once operational, UTM FLNG aims to significantly impact Nigeria’s economy by annually producing 1.5 million tons of Liquefied Natural Gas (LNG) for export, alongside 300,000 metric tonnes for the domestic market. This strategic endeavor seeks to enhance gas availability, stabilize prices, generate employment opportunities, and attract investments within Nigeria.
