29-01-09 Nigerian based oil and gas firm Danba GTL and BW offshore Company have signed an agreement to build a $ 1.5 bn Floating Liquefied Natural Gas (FLNG) in the country's deepwater.
The project commenced in Abuja with the signing of a Memorandum of Understanding (MoU) between the two companies. Speaking at the ceremony to sign the MoU, Chairman Danba GTL, Sa'adina H. Dantata said the FLNG project when completed will be the first technology of its kind in Nigeria.

He said the projects is of great importance for the history of gas industry in Nigeria because: "These two great companies are ready and willing to invest about $ 1.5 bn, to also bring expertise in the process to train Nigerians in the future. More so they are also coming with Mitsubishi Corporation of Japan to be the up taking company for the products that the FLNG will produce."
"Nigeria is more of a gas country then oil but this gas is not yet monetize like the oil, so the floating facility they are deploying is to serve as means to monetise those stranded gas offshore. There are a lot of activities in almost 120 km offshore Nigeria so it will be uneconomical for any body to explore that gas and pipe them to Nigeria. Instead, they will bring these floating vessels anchor it offshore and get the gas from there and process it, store it and offload it to other vessels for export."

He said BW Offshore are well known technology providers in the LNG and their interest into Nigerian economy has signifies the intention of the gas companies worldwide to answer Nigerian's yearn for investment in the gas sector.
"With the signing of this MoU the project has already kick-started. We have made submission to all the relevant government agencies and they indicated interest before we begin to sign the MoU, we have done all the necessary presentations to all relevant agencies, be it NAPIMS, DPR, ministry, Shell and NNPC and we have good encouragement."

Dantata said the Danba GTL will serve as local content company and the MoU is for us to own the project at the long run after they recoup their investment before the ownership structure changes.
BW Offshore is one of the world's leading FPSO contractors and a market leader within advanced offshore loading and production systems to the oil and gas industry. The company has 25 years experience and has successfully delivered 13 FPSO projects and 50 turrets and offshore terminals. With entrance into Nigeria's FLNG, the BW Offshore has now increased its global network in Europe, Asia Pacific, West Africa and the Americas.