The President gave the backing when he received a group of joint venture partners made up of UTM FLNG, TECHNIP Energies and JGC Corporation in his office, alongside Ambassadors of France and Japan to Nigeria.

Addressing State House correspondents after the meeting with the President, leader of the delegation and Group Managing Director of UTM FLNG, Julius Rone, said that a $5bn loan has been signed with Afreximbank for the implementation of the project.

Rone, who conveyed the President’s stance, said the project has the capacity to generate 7,000 direct jobs and produce 300,000 tons of LPG every year.

He further disclosed that it is the first time in Nigeria that an indigenous company will be involved in such a project that would contribute to the decarbonisation efforts in Nigeria.

Picture news:
President Bola Ahmed Tinubu Recieves in Audience the Group Managing Director of UTM FLNG Ltd, Mr Julius Rone at the State House. He is accompanied by Ms Emmanuelle Blatmann, The Ambassador of France to Nigeria, Ms Hiromi Otuski Deputy Ambassador for Japan to Nigeria, Mr Naoki Noguchi, MD JGC, Mr Sadeeq Mai Bornu (Project Advisor).

Recall that UTM in collaboration with Japan Gas Company (JGC) and Technip Energies Limited began the commencement of the Front End Engineering Design (FEED) for the nation’s first Floating Liquefied Natural Gas (FLNG) facility.

GMD of UTM, Mr Julius Rone, MD of Japan Gas Company and Senior VP of Technip present the prototype of Nigeria's first ever Floating Liquefied Natural Gas (FLNG) facility to President Bola Ahmed Tinubu (GCFR) at the State House.

When the construction of the FLNG facility is completed, it will have an LNG nameplate production capacity of 1.2 million metric ton per annum and a storage capacity of 200,000 cubic meters, as well as ancillary facilities to be located 60 km from the shore of Akwa Ibom State.

Nigeria currently has an estimated 209 trillion cubic feet (Tcf) of proven gas and a potential upside of 600 Tcf of gas, the most extensive in Africa, and in the top 10 globally. With the world moving to cleaner energy, Nigeria holds a vantage position.

https://www.channelstv.com/2023/07/05/tinubu-backs-5bn-floating-lng-project-to-develop-gas-resources/

https://twitter.com/DOlusegun/status/1676593857532764161?t=smaXQY2vT_n1MAB6oIAuWg&s=19

Video:
https://twitter.com/DOlusegun/status/1676577190803038208?t=rr42XX7367vRUgdc-9RlBQ&s=19

I swear this Tinubu government will be so sweet.

Sasi54:
I swear this Tinubu government will be so sweet.

Not too in a hurry

Okokobioko

Bola Ahmed is cocaine sniffing vagabond

And the only thing inside the head of Bola is tax

Nice one

This is impressive.

Rone, who conveyed the President’s stance, said the project has the capacity to generate 7,000 direct jobs and produce 300,000 tons of LPG every year.

He further disclosed that it is the first time in Nigeria that an indigenous company will be involved in such a project that would contribute to the decarbonisation efforts in Nigeria.

Good..

Development Inverter ASIWAJU President Tinubu.... You too much

Sasi54:
I swear this Tinubu government will be so sweet.

It will be..

This is a great development. The president must give the company all necessary support to deliver this project as soon as possible. NLNG has been a big success, FLNG can be a bigger success.

Gas is the future forex earner for Nigeria. With all the sanctions placed on Russian gas, the EU and other gas consumers are looking for alternative sources of supply. Nigeria must be ready to take the opportunity.

Okay

Wish Nigeria well, and it shall be well with you.

Nothing less!

Yorubadirty:
Okokobioko

Bola Ahmed is cocaine sniffing vagabond

And the only thing inside the head of Bola is tax

What is inside your father's head?

WorldRichest:


What is inside your father's head?

Something not in the mined skull of yours .

Lol… u na funny sha…see them above.

When will the Project Start and End? Nah the koko be that

Parachoco:
When

Parachoco my super urch1

This is the news we should be reading.

Nigeria has to find new ways of generating foreign currency to stabilise her exchange rate. Gas is very critical in this aspect.

Let's see how fast they can start up the gas projects.