As part of its foreign investment drive, the Nigerian National Petroleum Company Ltd (NNPCL) has signed a Memorandum of Understanding (MoU) with Golar LNG (GLNG.O) of Norway to build a floating liquefied natural gas plant in the country.
The memorandum was signed by NNPC’s Group Chief Executive officer, Mr Mele Kyari and Golar’s CEO, Karl Fredrik Staubo, in Abuja on Wednesday, NNPC announced on its Twitter handle.
The details of the agreement and scope of the project have yet to be made public.
Nigeria as Africa’s biggest oil producer holds some of the world’s largest gas reserves and with the signing of the MoU, NNPCL is mobilizing both foreign and local investments to boost its domestic supplies and exports.
It would be recalled that Golar had in the past indicated plans to set up a power project in Nigeria that could use one of its vessels to import liquefied natural gas.
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