Abuja, Nigeria – Nigeria’s state-owned oil firm, NNPC Ltd, has signed a memorandum of understanding (MoU) with Golar LNG, a Norwegian liquefied natural gas (LNG) shipping company, to construct a floating LNG plant in the country, according to a statement released by NNPC late on Wednesday.
As Africa’s largest oil producer, Nigeria is home to some of the world’s largest gas reserves and is now seeking investment to increase its domestic supplies and exports. The MoU, signed by NNPC CEO Mele Kyari and Golar CEO Karl Fredrik Staubo in the federal capital of Abuja, aims to achieve that goal.
However, no further details regarding the memorandum have been disclosed by NNPC or Golar LNG, and neither company has commented on the matter.
Golar LNG had previously expressed an interest in establishing a power project in Nigeria that could leverage one of its vessels to import LNG.
The proposed floating LNG plant would potentially provide Nigeria with a cost-effective way to monetize its abundant gas reserves and meet the growing global demand for LNG.
The partnership with Golar LNG is just one of several recent investments being made in Nigeria’s oil and gas sector. The country’s government has been working to increase foreign investment in the sector, with a goal to achieve energy self-sufficiency and become a major exporter of oil and gas products.
The agreement with Golar LNG marks a significant step towards achieving these goals and will undoubtedly play a critical role in Nigeria’s economic development.
PHOTO NEWS:
In furtherance of its efforts to deepen Nigeria's domestic gas utilization and enhance gas export, @nnpclimited has signed a Memorandum of Understanding (MoU) with a Norwegian company, Golar LNG (GLNG),to build a Floating Liquified Natural Gas (LNG) plant in Nigeria. pic.twitter.com/e8r6CLKmr0
— NNPC Limited (@nnpclimited) April 26, 2023
 with Golar LNG, a Norwegian liquefied natural gas (LNG) shipping company, to construct a floating LNG plant in the country, according to a statement released by NNPC late on Wednesday.){kind=link}