NIPCO plans $3bn gas project, eyes indigenous construction

NIPCO Group has announced plans to develop a $3 billion Floating Liquefied Natural Gas (FLNG) project in Nigeria. The proposed project, which would mark NIPCO's entry into the LNG sector, is expected to produce around three million tonnes of LNG annually, contingent on feasibility studies, regulatory approvals, and a final investment decision.

The project's location is currently under consideration, with options in the Escravos area of Delta State and Akwa Ibom region. The FLNG facility would be accompanied by marine and export infrastructure, potentially serving both international and domestic LNG markets. NIPCO has been evaluating the project for the past six to nine months, conducting preliminary technical, commercial, and feasibility assessments.