Commodities
NIPCO Plans $3bn FLNG Project in Nigeria
NIPCO Group has announced plans to invest more than $3 billion in a Floating Liquefied Natural Gas (FLNG) project in Nigeria, targeting a production capacity of three million tonnes per annum.
The proposed project will be located in the Escravos area of Delta State or Akwa Ibom and aims to monetize Nigeria's natural gas resources for both export and domestic markets.
NIPCO Managing Director Mr. Nagendra Verma said the company has been evaluating the project for six to nine months and is currently conducting preliminary technical, commercial, and feasibility studies.