RismadarVoice Reporters
September 24, 2026
NIPCO Group has announced plans to develop a Floating Liquefied Natural Gas (FLNG) project in Nigeria, with a proposed investment estimated at more than $3 billion.
The Managing Director of NIPCO Group, Nagendra Verma, disclosed this on Thursday at a press conference, saying the project was expected to have an LNG production capacity of about three million tonnes per annum.
Verma, however, noted that the proposed capacity and other project details remained subject to feasibility studies, regulatory approvals and a final investment decision.
He said NIPCO was considering locations around the Escravos area of Delta State and Akwa Ibom for the project, with the final site to be selected after the completion of ongoing assessments.
According to him, the proposed development would consist of an FLNG facility and associated marine and export infrastructure, with the potential to supply both international markets and Nigeria’s growing domestic LNG market.
Verma said NIPCO had been assessing the project for between six and nine months and was currently undertaking preliminary technical, commercial and feasibility studies.
He explained that the company was examining different development concepts, technologies, financing arrangements and commercial options to determine a technically viable and commercially sustainable project.
The NIPCO chief added that the assessment included the availability and reserves of upstream gas, FLNG technology and configuration, production capacity, marine and export infrastructure, domestic LNG opportunities, shipping and logistics, project economics and financing.
He also said the company was evaluating the logistics and shipping infrastructure required to support both the export of LNG and its distribution within Nigeria.
Verma stressed that the proposed project remained at the evaluation stage and that its final scope, location, capacity and investment decision would depend on the outcome of the ongoing studies and the necessary regulatory approvals.
