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Indigenous firm launches first floating LNG plant in C/River

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An indigenous firm, UTM Floating LNG Project is set to launch Africa’s first Floating Liquefied Natural Gas (FLNG) plant in Nigeria.

The plant is an onshore operational support base of the over 1.5 million ton, multi-billion LNG project.

Cross River State governor, Bassey Out, who disclosed this when he hosted the managing director of the firm, said his government is deliberate in attracting Foreign Direct Investment (FDI) to the state.

Otu assured the investors of sustained collaboration of his administration in actualising the project because of the state’s proximity to the location of the plant.

Otu said, “Cross River State is very rich in terms of hydrocarbon with huge gas resources which we intend to fully exploit during the life span of my administration.

“I am happy that the company has chosen Cross River State as its logistics base. We will definitely cooperate with them towards ensuring that other investors that left the state return. That way, our youths will gain employment.

“Providing job opportunities to over 3,000 unemployed in the state is such a huge achievement. If there is anything we are earnestly looking forward to now is to provide employment to our teeming youths.”

Speaking earlier, the MD of the firm, Dr Julius Rone, said the project is the first of its kind in Nigeria and first time such a project is being developed by an indigenous private African company.

He said FLNG, which will be anchored offshore Akwa Ibom, not far from the Yoho Platform in OML 104 being operated by Exxon Mobil, when completed, will produce on annual basis 1.5 million ton of LNG for export, 300,000 metric ton of LPG for domestic market and some quantities of condensate.