PROJECT DEVELOPMENT STATUS

Completed Deliverables

The project has made significant progress with several key milestones already achieved. A total of 15 hectares of land has been acquired for the proposed LNG plant. The Gas Supply Agreement (GSA) with Seplat Energy PLC has been finalized and is ready for execution. Additionally, the Environmental Impact Assessment (EIA) certificate has been obtained, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued a License to Establish (LTE) the LNG plant.

Further progress includes the completion of the feasibility study and front-end engineering design, identification of LNG plant OEMs, and receipt of Expressions of Interest (EOI) from LNG offtakers. Importantly, local community support has also been secured, ensuring strong stakeholder alignment.

Ongoing Deliverables

Current activities are focused on advancing financing and commercial agreements. Discussions are underway regarding project financing for both equity and debt. The execution of the finalized GSA with Seplat is in progress, along with the execution of LNG off-take agreements to secure buyers.

Planned Deliverables

Looking ahead, the project will move into the next critical phases, beginning with the Final Investment Decision (FID). Following this, the contract for Front-End Engineering Design (FEED) will be awarded. The subsequent steps include detailed design and eventually procurement and construction of the LNG plant.