Commodities
NNPC Hails $800m Ima Gas Project Investment as Landmark Development
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has welcomed the $800 million Final Investment Decision (FID) for the Ima Gas Project, calling it a landmark development that confirms Nigeria's upstream gas sector is viable.
Group Chief Executive Officer Mr. Bashir Ojulari said the project will produce 300 million standard cubic feet of gas per day at peak and supply feedgas to Nigeria Liquefied Natural Gas Limited (NLNG) in support of its Train Seven expansion.
The output will increase capacity at the Bonny Island plant from 22 million tons per annum to 30 Mtpa, with the FID enabled by Presidential Directives of 2024 that provided fiscal incentives for non-associated gas, streamlined contracting and lowered development costs.