Commodities
Nigeria Issues First License to Build Delayed Floating LNG Plant
- UTM Offshore to develop facility after five years of waiting
- Africa’s largest crude producer is trying to pivot from oil
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Nigeria’s UTM Offshore Ltd. has received approval to build the West African nation’s first-ever floating liquefied natural gas facility — five years after it was first announced.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority issued a so-called license-to-construct to the Abuja-based company for an LNG project estimated at 2.8 million metric tons per year.