Nigeria to build floating LNG terminal

Nigeria has offered a license to UTM Offshore Limited to build the country’s first floating LNG terminal.

The plant would use gas from an ExxonMobil oil field in the Niger Delta and would serve both as an export terminal and supply the domestic market, local media reported.

The infrastructure would curb gas flaring which costs the government 1 billion dollars annually.

The new floating plant is expected to deliver 500,000 metric tons of liquefied petroleum gas for the domestic market, while the LNG will be exported, according to Nigerian officials.

Nigeria, the most populous African country, has more than 209 trillion cubic feet of gas reserves.