Indigenous Firm Embarks On $3bn Floating LNG Plan, Targets 3MMTPA Production

The NIPCO Group has announced plans to develop a Floating Liquefied Natural Gas project in Nigeria with an estimated investment in excess of $3 billion, in what promises to be a major breakthrough for Nigeria’s gas economy.
The historic announcement was made by the Managing Director of NIPCO Gas Ltd, Nagendra Verma.
Verma disclosed that the proposed project, which will mark NIPCO’s strategic entry into the Liquefied Natural Gas sector, is being considered for locations in the Escravos area of Delta State and the Akwa Ibom region.
This investment decision is coming as stakeholders in the oil and gas companies have pointed to the need to improve on security of investment in the oil an...