NIPCO Unveils $3 Billion Floating LNG Project in Nigeria
NIPCO Group has announced plans to develop a Floating Liquefied Natural Gas (LNG) facility in Nigeria, valued at over $3 billion.
The proposed project will be located either in the Escravos region of Delta State or in the Akwa Ibom region and will have an LNG production capacity of approximately 3 million tonnes per annum.
Nagendra Verma, Managing Director and Chief Executive Officer of NIPCO Gas Ltd, said the project represents a natural extension of NIPCO's existing capabilities and its strategy of participating across the broader natural gas value chain.
The Group intends to leverage its existing technical and commercial capabilities, as well as strategic partnerships with experienced international technology providers, engineering companies, contractors, financial institutions, and other strategic partners for successful development.