Nigeria: LNG project

Flex LNG Ltd has signed a heads of agreement with Mitsubishi Corp. and Peak Petroleum Industries Nigeria Ltd to jointly develop and market the world’s first floating liquefaction project off Nigeria. The partners will exploit natural gas reserves at Peak’s offshore OML 122, and they expect the project to produce 1.5 million tns/yr of LNG for 15 years. The first commercial LNG cargo is planned for second-half 2011.
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