UTM FLNG Limited, the developer of Nigeria’s first floating liquified natural gas facility, has targeted the fourth quarter of 2024 to achieve a Final Investment Decision (FID) on its floating liquefied natural gas project.

The Board of Directors of the company, in its maiden meeting on Tuesday, July 23, 2024, in Abuja, evaluated and approved the progress of the company, particularly the Engineering, Procurement, Construction, Installation, and Commissioning (EPCIC) phase of the project.

In addition, the board of directors directed the company to expedite action on the management and organisational structure to ensure a smooth takeoff of the project’s construction phase.