President Bola Ahmed Tinubu has reiterated his commitment to support Nigerian firm, UTM Floating Liquefied Natural Gas Limited, and its foreign partners for the timely actualisation of their gas project.
Speaking at the State House in Abuja during an audience with the management of the company and its foreign partners, the President pledged to remove all impediments to the timely completion of the facility.
“Yes, we have abundance of gas on the ground. However, the extractive industry needs the injection of your kind of partnership to be able to promote growth,” Tinubu said.
“It is a must for any government to support. Let me know if there are any bottlenecks, we will break them.”
The President applauded the conglomerate for the massive investment which, he said, would promote growth and protection of the environment.
Earlier, the Managing Director and Chief Executive Officer of UTM Offshore Limited, Mr. Julius Rone, said the project aligns with President Tinubu’s promise to develop Nigerian gas resources as a source of sustainable energy and economic development for the country.
He said when the facility gets upstream by the Fourth Quarter of 2026, it would process 1.5 million metric tonnes of Liquefied Natural Gas for foreign market, and produce 300,000 metric tonnes of Liquefied Petroleum Gas (LPG) for domestic use.
Mr. Rone said the company would cater for 25 percent of domestic demand for LPG.
In her remarks, the French Ambassador to Nigeria, Emmanuelle Blatmann, described the project as a milestone, cementing the French presence in Nigeria’s economic space.
The facility, she said, would advance the economic diversification agenda of the Federal Government by tapping into the country’s abundant gas deposit.
When delivered, she said, the gas from Nigeria would be viable as an alternative source of gas for Europe.
