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Nigerian National Petroleum Corporation (NNPC) Signs Floating Liquefied Natural Gas (FLNG) Deal with Golar LNG, Bolstering Gas Commercialization in Nigeria

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The partners anticipate a final investment decision for the project by December 2024 and first gas by 2027

JOHANNESBURG, South Africa, June 11, 2024/APO Group/ — 

Marine LNG infrastructure developer Golar LNG has signed a Project Development Agreement (PDA) with the state-owned Nigerian National Petroleum Corporation (NNPC) for the deployment of an FLNG facility offshore Niger Delta. With a capacity of 400-500 million standard cubic feet per day (MMscf/d), the facility will produce LNG, LPG and condensate. The companies are eyeing the end of 2024 to achieve a final investment decision (FID), with first gas production expected by 2027.

Representing the voice of the African energy sector, the African Energy Chamber (AEC) commends both the NNPC and Golar LNG for this industry milestone. The AEC believes that projects such as the FLNG facility will play an instrumental part in scaling up gas commercialization in Nigeria, laying the foundation for a new era of industrialization across the continent.

The Golar LNG-led FLNG facility will monetize proven gas reserves within shallow water acreage in Nigeria and falls under a broader national agenda to monetize the country’s offshore natural gas resources. According to the NNPC, the facility aligns closely with Nigerian President Bola Ahmed Tinubu’s mandate to leverage Nigerian gas for sustained economic growth and is a major milestone in strengthening commercialization through FLNG infrastructure.

The launch of the FLNG project by the NNPC and Golar LNG marks a crucial step towards bolstering gas commercialization in the country

The FLNG project represents just one of the many key developments underway in Nigeria. In May 2024, Nigeria inaugurated three new gas projects – the expanded AHL Gas Processing Plant, the ANOH Gas Processing Plant and the 23.3-km ANOH to Obiafu-Obrikom-Oben Custody Transfer Metering Station Gas Pipeline. Once operational, these projects will collectively supply 500 MMscf/d to the domestic market. Additionally, the development of the Nigeria-Morocco Gas Pipeline is progressing, with feasibility studies for the first section – which connects Morocco to Mauritania and Senegal – nearing completion. The $25-billion project anticipates FID in 2025.

Meanwhile, in 2023, the NNPC signed a Heads of Terms agreement with Nigerian oil and gas company UTM Offshore for the development of the country’s first indigenous FLNG project. In March 2024, the companies announced that the project was advancing to the Engineering, Procurement, Construction, Installation and Commissioning phase. Energy major Shell has also unveiled plans to invest up to $1 billion over the next ten years to develop natural gas in Nigeria, drawing on a high level of global interest in the country’s gas market potential.

Nigeria’s robust pipeline of gas projects is supported by broader policy implementation, which aims to incentivize foreign investment and support project development. In 2021, the country launched its “Decade of Gas” initiative, which served to position gas as a catalyst for industrial growth in Nigeria. The initiative has been supported by additional policy reforms including Nigeria’s Petroleum Industry Act (2021) – which created a licensing framework for the natural gas industry, including provisions related to gas pricing, distribution, flaring and tax incentives; the Nigerian Energy Transition Plan; and the Nigerian Gas Flaring Commercialization Program. These policies place gas as a central engine for economic growth and promote investment across the domestic and regional gas value chain.

“With over 200 trillion cubic feet of proven gas reserves – the largest in Africa – Nigeria is well-positioned to become a global hub for sustainable energy. The launch of the FLNG project by the NNPC and Golar LNG marks a crucial step towards bolstering gas commercialization in the country, with the project set to unlock a new wave of economic opportunities, job creation and infrastructure development. The AEC commends the efforts of Golar LNG to strengthen Africa’s natural gas infrastructure and looks forward to many more fruitful collaborations among African nations,” states NJ Ayuk, Executive Chairman of the AEC. 

The deal comes ahead of the Africa Energy Week (AEW): Invest in African Energy conference – scheduled for November 4-8 in Cape Town – and represents a critical step towards advancing gas monetization in Nigeria. This year’s edition will host a dedicated Invest in Nigeria Energies country spotlight, providing unparalleled insight into the country’s energy sector opportunities. Projects such as the recently-launched FLNG facility – spearheaded by Golar LNG – will be showcased, with companies unpacking the wealth of opportunities available in the Nigerian market. 

Distributed by APO Group on behalf of African Energy Chamber.

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Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

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Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

Distributed by APO Group on behalf of Energy Capital & Power.

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Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

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The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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