News Details

TotalEnergies considering more LNG investment in Nigeria

French energy company TotalEnergies is considering a $750m (N1.25trn) gas project in Nigeria to boost LNG supplies.  

The project, set to be sanctioned next year, follows a $500m investment in the Ubeta onshore field, a joint venture with the Nigerian National Petroleum Company.  

Speaking at a France-Nigeria business forum in Paris, TotalEnergies senior vice-president Africa, exploration and production Mike Sangster stated: “We have another dry gas project called Ima, which we hope to sanction next year for about $750m.”  

The project will be developed with a local partner, reported Bloomberg. 

Since May 2023, Nigerian President Bola Tinubu has sought to address challenges in the oil and gas sector, signing two executive orders to enhance efficiency.  

Nigeria aims to attract $10bn in deep-water gas exploration investments through tax breaks and new policy measures. 

editor@lngworldwide.com