NNPC Ltd. is poised to transform Nigeria’s power and industrial sectors with the abundance of the nation’s gas resources, declared Group Chief Executive Officer Mele Kyari. He made the bold statement at the signing ceremony for the first-ever Nigerian Floating Liquefied Natural Gas (FLNG) project held in Abuja.

“In the next few years, gas will power a revolution in our country,” Kyari proclaimed. “The benefits will be tangible: prosperity, value creation, and not just gas exports, but a domestic market boom fueled by gas. Our infrastructure is nearly ready to make this happen, and the impact on power, industries, and numerous other sectors will be immediate and substantial.”

Emphasizing the urgency of the FLNG project, Kyari acknowledged Nigeria’s underutilized gas wealth. Monetizing this resource for national and global benefit is the new priority, he asserted. The project aligns perfectly with the government’s gas aspirations under the Decade of Gas Initiative and President Tinubu’s vision for a Nigerian gas hub, unlocking maximum value and prosperity.

Kyari reiterated NNPC Ltd.’s dedication to the project, calling it the first FLNG the company has directly invested in. “We’re actively promoting more Floating and fixed LNG projects,” he added. “We’re proud to collaborate with the Delta State Government and will take practical steps to deliver this project promptly, efficiently, and cost-effectively.”

UTM Offshore Group Managing Director Julius Rone hailed the signing as a crucial milestone for Nigeria’s first indigenous FLNG. He commended President Tinubu’s commitment to gas development, citing his COP28 pledge to end gas flaring and leverage gas as a transition fuel for cleaner energy and reduced methane emissions. Rone also lauded Kyari’s leadership in ensuring gas development adheres to the Petroleum Industry Act 2021.

Delta State Governor Rt. Hon. Sheriff Oborevwori, whose state holds 40% of Nigeria’s gas reserves, explained their 8% stake in the project, citing its strategic importance for the national economy. Beyond producing over 300,000 metric tons of domestic LPG, he emphasized the project’s environmental benefits: reduced gas flaring, job creation, and a shift from kerosene and firewood to cleaner energy, improving public health and well-being.

Honourable Minister of State for Petroleum Resources (Gas) Rt. Hon. Ekperikpe Ekpo highlighted the FLNG’s role in monetizing gas resources to drive the economy and achieve energy security.

Executives from NNPC Ltd. further emphasized the government’s faith in gas as a growth catalyst, exemplified by the Decade of Gas initiative and the pursuit of a robust gas economy.

The FLNG facility is expected to produce 1.81 to 2.72 metric tons per annum of gas. NNPC Ltd., UTM Offshore, and the Delta State Government hold 20%, 72%, and 8% equity stakes respectively.