NIPCO Unveils $3bn FLNG Project Plans for Nigeria
NIPCO Group is planning to develop a $3bn Floating Liquefied Natural Gas (FLNG) project in Nigeria, according to its Managing Director, Mr Nagendra Verma. The project aims to boost gas monetisation and supply, with an estimated investment of over three billion dollars.
The FLNG facility may be located in the Escravos area of Delta or Akwa Ibom region, with access to upstream gas resources, LNG processing, and marine transportation. This will enable NIPCO to serve both international LNG markets and Nigeria's growing domestic demand, with an envisaged capacity of around three million tonnes annually.
NIPCO has evaluated the proposed project over the past six to nine months, undertaking preliminary assessments covering development concepts, technology solutions, and financing structures. The company is currently assessing commercial options to ensure a technically sound and commercially sustainable project.