NIPCO outlines more than $3bn plan for floating LNG project in Nigeria

NIPCO Group has announced plans to develop a Floating Liquefied Natural Gas project in Nigeria, Punch Nigeria reported. The proposed project is estimated to cost more than $3 billion and is planned to have a capacity of three million tonnes. The announcement identifies it as a floating LNG development, but the supplied report does not specify its location, construction timetable or financing structure.

NIPCO is also looking towards indigenous construction, according to the report’s headline and available summary. The material does not explain which components the group intends to build locally or identify the companies and institutions that would participate. No details were provided on the project’s expected start date, completion date, gas supply arrangements or intended markets.

The source likewise does not state whether a final investment decision has been made. The announcement establishes the proposed scale and broad construction ambition of the project, but further information would be needed to assess its implementation schedule and commercial status.