Nigeria’s UTM Offshore has secured a significant stake in the Yoho Floating Liquefied Natural Gas (FLNG) project, which is close to being sanctioned. The Delta State government, along with state-owned NNPC, will hold a 20%, 72%, and 8% stake in the project. The FLNG vessel will produce over 300,000 metric tonnes of cooking gas (LPG) for the domestic market and revolutionize Nigeria’s power and industrial sectors. FLNG facilities handle offshore LNG storage, processing, and transportation, allowing gas to be processed closer to the source without the need for miles of pipelines.
LNG facilities extract natural gas trapped deep underground and over-cooled into a transparent, non-toxic liquid, reducing its mass by 600 times. This allows for easier and safer transportation to gas recycling plants around the world, which convert it back into a combustible gas for heat and electricity generation. Natural gas is one of the cleanest and safest energy sources available today, producing half as much CO2 as coal and 10% less air pollutants. The demand for natural gas has increased dramatically, with the US production expected to increase over the next few years.
Sheriff Oborevwori, governor of Delta state, is particularly interested in the socio-economic benefits of the project, including the delivery of over 300,000 tonnes of LPG to the domestic market and mitigating environmental hazards in the Niger Delta.
