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

• Operator:

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

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

• Vessel:

• Vessel operator:

• Vessel owner:

• Vessel parent company:

• Location: Yoho field, offshore Nigeria

• Coordinates: 4.1485, 7.5526 (approximate)

• Capacity: 2.72 mtpa
  • Formerly 1.35 mtpa
  • Formerly 1.52 mtpa

• Status: Proposed

• Type: Export

• Start year: 2028
  • Formerly 2026

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

• FID status: pre-FID (Q2 2024)

• Associated infrastructure:

Background

UTM Offshore Limited (UTM Offshore) has proposed to develop 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 is 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 has also been boosted 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 this year.

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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