Nigeria's NIPCO Group Embarks on $3 Billion Floating LNG Project

NIPCO Group is planning to invest over $3 billion in a floating liquefied natural gas (FLNG) project, aiming to boost Nigeria's gas monetization and supply. The project, which will be NIPCO's entry into the LNG sector, will provide access to international and domestic markets.

Nagendra Verma, Managing Director of NIPCO Gas Ltd., said that the proposed FLNG facility could be located in the Escravos area of Delta or Akwa Ibom region. The final location will be determined after completion of feasibility studies.

The project is expected to have an LNG production capacity of about three million tonnes annually, and NIPCO is evaluating the shipping and logistics infrastructure required to support both export and domestic LNG supply.