NIPCO Gas Ltd. to Invest $3 Billion in FLNG Project

NIPCO Gas Ltd. announced plans for a Floating Liquefied Natural Gas (FLNG) project in Nigeria, with an estimated investment exceeding $3 billion. Managing Director Nagendra Verma revealed this at a press conference, stating the project aims for a production capacity of around three million tonnes per annum, contingent on feasibility studies, regulatory approvals, and a final investment decision.

The project is being considered for locations in the Escravos area of Delta State and the Akwa Ibom region. Verma indicated that the development would include an FLNG facility and associated marine and export infrastructure, targeting both international LNG markets and Nigeria's domestic demand.

NIPCO has been evaluating the project for six to nine months, conducting preliminary assessments of technical, commercial, and feasibility aspects. The company is also exploring a strategic partnership with the Nigerian National Petroleum Company for the project's development.