Julius Rone targets September FID for Nigeria’s first FLNG facility
Nigerian energy entrepreneur Julius Rone is aiming to reach a final investment decision in September for what would be Nigeria’s first floating liquefied natural gas, or FLNG, facility, according to Billionaires.Africa.
A final investment decision, or FID, marks the point at which project sponsors formally commit capital and proceed with construction. Reaching one would be a notable milestone for Nigeria’s gas sector, which for decades has been anchored by the Nigeria LNG plant on Bonny Island in Rivers State, the country’s only operational liquefaction complex since it came online in 1999.
Floating LNG technology allows natural gas to be cooled and liquefied at sea, typically close to offshore production sites, removing the need for long pipelines to an onshore terminal. FLNG vessels have been deployed in several countries including Australia, Malaysia and Cameroon, but Nigeria has so far relied exclusively on its onshore Nigeria LNG joint venture, which involves the Nigerian National Petroleum Company, Shell, TotalEnergies and Eni.
Nigeria holds some of the largest proven natural gas reserves in Africa, and successive governments have sought to expand the role of gas in the economy, both for domestic power generation and for export. The development of additional gas infrastructure, including floating units, has been discussed as a way to monetise reserves that might otherwise be flared or stranded, particularly offshore.
According to Billionaires.Africa, Rone’s September target reflects the momentum building around the project. Should the FID be reached, the facility would be the first of its kind in Nigeria and would add a new dimension to the country’s gas export capabilities beyond the existing Bonny Island complex.
Sources
This report was written from coverage published by the following news organisations. Follow the links for the original reporting.
- Billionaires.Africa — Julius Rone targets September FID for Nigeria's first FLNG
