NIPCO to Develop $3 Billion FLNG Project in Nigeria
NIPCO Group has announced plans to develop a Floating Liquefied Natural Gas (FLNG) project in Nigeria, estimated to cost over $3 billion. The proposed project will have an LNG production capacity of approximately three million tonnes per annum and is expected to serve both international markets and Nigeria's growing domestic gas demand.
The FLNG facility will be accompanied by associated marine and export infrastructure, with the final location determined after ongoing feasibility studies. NIPCO has been evaluating the project for six to nine months and is currently undertaking preliminary technical, commercial, and feasibility assessments.
Nagendra Verma, Managing Director of NIPCO Gas Ltd, highlighted the significance of this investment, stating 'The proposed development is expected to represent a significant investment currently estimated in excess of $3bn.' He added that the project will create jobs, support industrialization, and reinforce Nigeria's position in the global LNG market.