NIPCO Plans $3 Billion FLNG Project in Nigeria

NIPCO Group is planning a massive investment in Nigeria's energy sector with its proposed $3 billion Floating Liquefied Natural Gas (FLNG) project.

The project, which is expected to produce approximately three million tonnes of LNG yearly, would mark the group's entry into the LNG sector and reinforce its long-term commitment to developing and monetizing Nigeria's natural gas resources.

Nagendra Verma, Managing Director and Chief Executive Officer of NIPCO Gas Limited, stated that the project represents a significant investment, with an estimated cost exceeding $3 billion. The final location for the FLNG facility is yet to be determined, but it will either be in Delta or Akwa Ibom State.

The proposed development would comprise an FLNG facility along with associated marine and export infrastructure, enabling access to both international and domestic markets. NIPCO Group expects to complete a feasibility study within the next few months, following which the project configuration, investment requirements, development schedule, and implementation structure will be further defined.