As a leader in offshore energy, Julius Rone, CEO of UTM Offshore, is confirmed to speak at the upcoming Invest in African Energy (IAE) 2025 Forum in Paris. UTM Offshore is currently playing a pivotal role in Nigeria’s energy sector, including the development of the country’s first floating LNG (FLNG) facility, along with broader investments in Africa’s energy future.
The company’s $5 billion UTM FLNG project continues to progress, with significant milestones achieved in design, construction and timeline for production. The 2.8 MTPA facility is poised to make a substantial contribution to Nigeria’s LNG capacity, strengthening the country’s position in the global energy market. In September 2024, UTM Offshore received the license from the Nigerian Federal Government to construct the project, bringing it one step closer to making a final investment decision, which is expected in 2025.
IAE 2025 (apo-opa.co/3Qlfj69) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
The UTM FLNG facility serves as a prime example of the steps required to secure significant funding for large-scale gas projects, including diversifying funding sources, securing off-take agreements and gaining government support. According to Rone, UTM Offshore signed an MOU with the African Export-Import Bank in 2021 to raise up to $2 billion for the project. The bank has since received preliminary approval to invest $350 million, while UTM has secured contracts with JGC Corp and KBR Inc. for the facility’s design. Additionally, Vitol Group has entered into an LNG off-take agreement, and last year, UTM signed a deal with the Nigerian National Petroleum Company for it to acquire a 20% stake in the project.
UTM Offshore’s participation at IAE 2025 underscores the company’s commitment to maximizing returns on investment in Africa’s energy sector, particularly through projects like UTM FLNG that connect the global investment community to Africa’s emerging energy opportunities. As Africa becomes an increasingly important player in the global energy landscape, UTM Offshore’s initiatives represent the continent’s growing capacity to provide sustainable energy solutions while fostering collaboration with international investors and stakeholders.
Distributed by APO Group on behalf of Energy Capital&Power.
