Transoceanic Gas & Power has announced the start of pre-FEED work for a new 3 million tons per annum (mtpa) floating LNG (FLNG) project offshore Nigeria, in cooperation with Wison New Energies and NMDPRA.
The company seeks to develop an offshore gas hub around OPL 289, an offshore license located next to the Pennington terminal. It wants to monetise some 500 MMscf/d of stranded offshore and swamp gas resources to produce 3 mtpa of LNG for the export market, 150,000 metric tonnes per annum (tpa) of LPG for the domestic market, 25,000 barrels of per day (bpd) of condensates, and 75,000 metric tpa of propane.
The project’s plans also include a phased gas-to-power project of up to 1GW, starting with a floating power barge of 250 MW.
Feedstock would come from gas resources on OPL 289 along with OMLs 86 and 88, two shallow water blocks that include the Pennington Terminal and were recently divested by Chevron and acquired by NNPC Ltd. “The model will help derisk upstream gas resourcing, and we guarantee at least 7 TCF of gas supply,” the company says on its website.
The project is backed by private equity with the upstream gas development supported by financing from Quantum Suisse, Transoceanic Gas & Power said yesterday.
It has revealed an impressive lineup of international contractors and partners it intends to work with to support various components of its future gas hub, including Wison New Energies for the design and EPC of the floating LNG unit and floating power barge, Samsum Heavy Industry (SHI) for the upstream facilities, Siemens Energy for the power and compression components, and Karpowership, Vitol and Socar of Azerbaijan as LNG off-takers.
Transoceanic Gas & Power is not the first company to propose a floating LNG project in Nigeria, where several such ventures are currently being planned. However, the company’s vision is unique in its scale and diversity by integrating several revenue streams that ensure a maximal usage of the gas molecules including for LNG, LPG, condensate, and power with a mix of domestic and export allocations.