UTM FLNG, NNPC, Seplat Seal 15-Year Gas Deal

UTM FLNG Ltd, NNPC Ltd, and Seplat Energy signed a 15-year Wet Gas Sale and Purchase Agreement (WGSPA) to supply 200 million standard cubic feet of gas per day. The agreement was executed during Nigeria Oil and Gas Energy Week 2026 in Abuja and is seen as a significant milestone in implementing President Bola Tinubu's mandate to deepen gas utilization.

Bayo Ojulari, Group Chief Executive Officer of NNPC Ltd, noted that the agreement would create jobs, enhance local content, and strengthen Nigeria's competitiveness in the global LNG market. The UTM FLNG project, which commenced in 2021, will source feed gas from the OML 104 Yoho field offshore Akwa Ibom State and is expected to process 1.8 million tons per annum.

The project is advancing steadily, with the front-end engineering design completed in 2021 and the feed completed in October 2023. The Nigerian Midstream Downstream Petroleum Regulatory Authority has granted a project license for construction, and the Nigerian Content Development and Monitoring Board has approved the Nigerian content plan.