President Bola Tinubu has said that the federal government will support the Nigerian company, UTM Floating Liquefied Natural Gas Limited, and its foreign partners in timely updating of their gas project.
Speaking at the State House, Abuja, during a hearing with the company’s management and its foreign partners on Wednesday, President Tinubu vowed to remove all impediments to the timely completion of the facility.
President Tinubu commended UTM FLNG Limited, as well as its technical partners, Technip Energies of France, and its Japanese counterpart, JGC, for the initiative and partnership.
“Yes, we have an abundance of gas in the ground. However, the extractive industry needs the injection of its type of association in order to promote growth.
“It is a necessity for any government to support. Let me know if there are any bottlenecks, we will break them,” she said.
The president applauded the conglomerate for the massive investment that he said would promote growth and protect the environment.
Briefing the Chairman earlier, UTM Offshore Limited Managing Director and CEO Julius Rone said the project aligns with Chairman Tinubu’s promise to develop Nigeria’s gas resources as a source of sustainable energy and economic development for the country.
It said that when the facility is upstream by the fourth quarter of 2026, it will process 1.5 million metric tons of liquefied natural gas for the foreign market and produce 300,000 metric tons of liquefied petroleum gas (LPG) for domestic use.
Rome said the company would serve 25 percent of domestic LPG demand.
Therefore, he requested the support of President Tinubu to remove any obstacles that may jeopardize the delivery of the project on schedule.
In her remarks, the French ambassador to Nigeria, Emmanuelle Blatmann, described the project as a milestone that consolidates the French presence in the Nigerian economic space.
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The facility, he said, would further the federal government’s economic diversification agenda by taking advantage of the country’s abundant gas deposits.
When delivered, he said, the Nigerian gas would be viable as an alternative source of gas for Europe.
Also in the delegation were Japan’s deputy ambassador to Nigeria, Hiromi Otuski; JGC General Director, Naoki Noguchi, and Project Advisor, Sadeeq Bornu.