Nigeria-based NNPC Ltd. and UTM Offshore signed a Heads of Terms (HoT) agreement for the construction of Nigeria’s first indigenous Floating LNG project. (Earlier post.)

UTM Offshore Group Managing Director Julius Rone, expressed his delight at the partnership with NNPC Ltd., said that this agreement showcased the capability of indigenous companies to collaborate with world-class energy conglomerates to drive growth in Nigeria’s energy sector. UTM Offshore is also based in Nigeria.

Rone also said that apart from significantly cutting down on gas flaring and supporting the country’s commitment to reducing carbon emissions, the project would also create more than 7,000 job opportunities, contributing to the nation’s economic growth and development.