Exclusive: FID on Nigeria’s $5b floating LNG project slips again to 4Q 2023

By David Whitehouse
Posted on Thursday, 24 November 2022 10:20

Floating LNG vessels cut out the need for pipelines. REUTERS/Ints Kalnins

The timetable for a final investment decision (FID) by UTM Offshore on Nigeria’s first floating liquefied natural gas (FLNG) project has slipped again to the fourth quarter of 2023, CEO Julius Rone tells the Africa Report.

Rone in December 2021 said that the decision would be taken in the fourth quarter of 2022, and in June this year said that it had been pushed back to the second quarter of 2023. The delay, Rone says, is due to negotiations with France’s Technip over the engineering design contract, which cost four or five months. UTM, Technip, Japan’s JGC Corporation and Kellogg Brown & Root signed the engineering contract this month.