Akwa Ibom State has taken another step towards strengthening its energy and investment portfolio through a collaborative agreement with Ibom LNG and Logistics Base Limited aimed at advancing gas infrastructure and industrial growth.
The two parties on Monday signed a Non Disclosure Agreement at the Akwa Ibom Investment Corporation in Uyo, signalling renewed commitment to developing the state’s liquefied natural gas capacity and promoting private sector participation in the industry.
At the signing, the Managing Director of AKICORP, Mr Imo Abasi Jacob, described the deal as a strategic effort to create an enabling environment for investors and accelerate economic diversification. He noted that the understanding would help attract financial and technical partnerships required to expand the energy value chain.
Chief Jimmy Ntuen, Chairman and Chief Executive Officer of Ibom LNG and Logistics Base Limited, also said the arrangement builds confidence for the company’s long term investment plans within the state.
Under the agreement, Ibom LNG will conduct further collaborative studies on its proposed mini liquefied natural gas plant, which will have a processing capacity ranging between 100 and 150 million standard cubic feet of gas per day. The facility, which is planned alongside a logistics base and port installation at Akpabom in Onna Local Government Area, will occupy a 35 hectare plot within the Liberty Oil and Gas Free Zone.
The free zone covers about 50,215 hectares and serves as a designated industrial hub for oil and gas projects. Authorities say it offers regulatory incentives, streamlined customs procedures and access to key export routes through the Atlantic coast.
The long term projection of Ibom LNG includes expansion into an export focused operation expected to handle up to ten million tonnes of gas annually. Such capacity, according to sector analysts, will reinforce Akwa Ibom’s status as a major contributor to Nigeria’s gas export market.
Energy policy observers view the development as complementary to the state’s existing floating LNG and gas commercialisation framework, which seeks to drive domestic utilisation, create jobs and position Akwa Ibom as a focal point for energy logistics in West Africa.
