Tor Olav Trøim-backed Golar LNG has inked a memorandum of understanding with Nigeria’s state oil firm NNPC to build a floating liquefied natural gas (FLNG) plant in the country.
NNPC said on social media that the deal was signed by its chief executive Mele Kyari and Golar CEO Karl Fredrik Staubo in the federal capital, Abuja.
No further details have been revealed about the project, but NNPC said the deal is part of its efforts to deepen Nigeria’s domestic gas utilisation and also boost gas exports.
Africa’s biggest oil producer, Nigeria, holds some of the world’s biggest gas reserves and is seeking investment to boost its own domestic supplies and exports. The Nasdaq-listed Golar has identified Africa as one of its key regions, with Nigeria as one of its potential setups. In March, the company also bought out New Fortress Energy in the FLNG facility operating offshore Cameroon. The Golar LNG-owned Golar Gimi FLNG unit destined for BP’s Tortue project offshore Mauritania is also scheduled to be the first unit delivered in the region and commence production in 4Q 2023.
They say there are 2-two happy days when doing business in Nigeria. Which is the day you enter the country and the day you are getting out. I have never heard anyone, except Shell who have made consistent money in Nigeria.
All look good on paper, until inefficyency and corruption takes hold. There will be no differanse in this Golar deal.
Others countries announce completion of project..here we celebrate kick off of project…it could take100 yrs to complete…maybe a routine 6 months stuff..mtcheww