In a major drive for Foreign Direct Investment, the Cross River State Government is partnering an indigenous firm, UTM Floating LNG Project, to launch its pioneer Floating Liquefied Natural Gas (FLNG) plant.
The state will host the onshore operational support base of the over 1.5 million tonne, multi-billion LNG project.
This is sequel to its proximity to the location of the plant for the contractor Messrs JGC Holdings Corporation.
The State Governor, Senator Prince Bassey Otu who played host to the investors promised the collaboration of his administration in actualising the project.
The governor said the state is very rich in hydrocarbon resources and the prospect of engaging over 3000 youths appeals to him.
“Cross River State is very rich in terms of hydrocarbons with huge gas resources which we intend to fully exploit during the life span of my administration.
“Providing job opportunities to over 3, 000 unemployed in the state is such a huge achievement. If there is anything we are earnestly looking forward to now is to provide employment to our teeming youths.
“We seriously need to grow the economy. We have set a target for ourselves with machinery in motion to double our Gross Domestic Product (GDP) with attendant increase in internally generated revenue in the next four years.
“So, you are not going to do only offshore, I believe that by the time our designated blocs are out, you will love to take good advantage by exploring it”, Governor Otu said.
He assured the company of its safety in the state adding that the state government will give them maximum support needed to actualise the project.
Earlier, the Managing Director, UTM (Nig) Limited, Dr. Julius Rone, in company of his Japanese and German partners, disclosed that the delegation were in the state for site assessment for the setting up of an onshore operations support base for its contractor, Messrs JGC Holdings Corporation of Japan, on the UTM Floating LNG Project.
According to the MD, the project is the first of its kind in Nigeria and first time such a project is being developed by an indigenous private African company.
He maintained that FLNG which will be anchored offshore Akwa Ibom, not far from the Yoho Platform in OML 104 being operated by Exxon Mobil, when completed will produce on annual basis, 1.5 million tonnes of LNG for export, 300,000 metric tonnes of LPG for the domestic market and some quantities of condensate.
About the Author
THEWILL Correspondent, Aniekan Bassey has over six years experience that spans across several fields in print journalism including development communication, sexual reproductive and health rights issues, crime, climate change, social justice, business and human interest stories.
