UTM Offshore FLNG Terminal

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UTM Offshore FLNG Terminal is a floating liquefied natural gas (LNG) export terminal proposed in Nigeria.

Location

The terminal is proposed to be located in the Yoho field, offshore Nigeria.

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Project details

• Owner: UTM Offshore (72%), NNPC (20%), Delta State Government (8%)

• Parent company: UTM Offshore (72%), NNPC (20%), Delta State Government (8%)

• Location: Yoho field, offshore Nigeria

• Coordinates: 4.1485, 7.5526 (approximate)

• Capacity: 2.1 mtpa

• Status: Proposed

• Type: Export

• Start year: 2029

• Financing: $5 billion from African Export-Import Bank

• FID status: pre-FID (Q2 2025)

Background

In 2019, UTM Offshore Limited (UTM Offshore) received a license to build a floating liquefied natural gas (FLNG) vessel to export gas from the Yoho crude oil field in Oil Mining Lease 104, offshore Nigeria.

As of December 2021, UTM Offshore was expecting to take FID in the fourth quarter of 2022, and to launch the facility in 2026. The African Export-Import Bank has signed a Memorandum of Understanding with UTM Offshore to support the project with US$5 billion in funding.

In June 2022, UTM Offshore announced that it would delay FID until Q2 2023.

In July 2023, UTM Offshore and the Nigerian National Petroleum Company (NNPC) signed a heads of agreement (HOA) for the construction of the project, under which NNPC would take a 20% equity stake.

In December 2023, UTM Offshore and NNPC signed an agreement with Delta State Government bringing it on as a shareholder. The capacity of the project had also been boosted to up to 2.72 mtpa, and it is expected to produce 300,000 tonnes of LPG as well for the domestic market.

In March 2024, UTM delayed its anticipated FID until the second quarter of 2024.

In September 2024, the Nigeria Midstream and Downstream Petroleum Regulatory Authority awarded UTM Offshore a license to construct what will be the country's first floating LNG plant.

The project originally had a capacity of 1.2 mtpa, but was upgraded to 2.8 mtpa due to increased demand. Of this, 2.1 mtpa is to be LNG, 500 kT/yr is to be LPG, and 200 kT/yr is to be condensate.

In February 2025, it was announced that financial close was planned for end of Q2 2025 and that UTM Offshore had submitted a draft Environmental Impact Assessment for regulatory approval. The anticipated start date was shared to be 2029, delayed from 2028.

Additional Project

In November 2022, UTM Offshore said that it may develop a second floating LNG platform with a similar capacity to that of UTM Offshore FLNG Terminal. This project would draw gas from other fields located offshore Nigeria, rather than the Yoho field.

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