UTM Signs Gas Sales Agreement with Seplat and NNPC for Yoho FLNG Project

UTM Offshore Limited has signed a gas sales agreement with Seplat Energy and the Nigerian National Petroleum Corporation (NNPC) for the Yoho FLNG (Floating Liquefied Natural Gas) project in Nigeria. The agreement is considered a significant step in advancing the project and securing gas supply. The Yoho FLNG project aims to utilize Nigeria's natural gas resources and increase liquefied natural gas (LNG) exports. UTM intends to strengthen the region's energy infrastructure and contribute to the global LNG market through this project. Seplat Energy, one of Nigeria's leading energy companies, will act as the gas supplier in the agreement, while NNPC, as the national oil company, provides support to the project. This collaboration reflects the growth potential of Nigeria's natural gas sector. Financial details of the agreement have not yet been disclosed, but a significant increase in Nigeria's LNG export capacity is expected upon project completion. UTM plans to bring the project online in the coming years. This is not investment advice.