THE official launch of front-end engineering and design work on Nigeria's first floating liquefied natural gas project took place in London this week. Nigerian independent UTM Offshore - which aims to exploit gas from the shallow-water Yoho field as feedstock for its project - has contracted Japan's JGC, KBR of the US and Paris-based Technip Energies to handle the FEED work. Having signed an agreement to co-finance the development with Cairo-based Afreximbank earlier this year - up to $5 billion may be forthcoming - UTM Off-shore's move into FEED studies signals the project is moving to its implementation phase. UTM is in talks with ExxonMobil and NNPC Limited over accessing gas in OML104, which contains Yoho, as it seeks to fast track the development of this stranded resource.
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