Nigeria's UTM secures gas supply deal, clears key hurdle to $3 billion LNG project

Nigeria’s UTM Offshore secured a 15-year gas supply agreement, clearing a key hurdle for its $3.0B floating LNG (FLNG) project’s final investment decision. The FID is now expected in Q4, after delays. The update modestly improves project visibility and supports progression of capital deployment.

Analysis

Nigeria’s UTM Offshore secured a 15-year gas supply agreement, clearing a key hurdle for its $3.0B floating LNG (FLNG) project’s final investment decision. The FID is now expected in Q4, after delays. The update modestly improves project visibility and supports progression of capital deployment.