Tinubu unlocks $800m gas as Ima Gas project begins
By Olugbenga Adeoye
President Bola Ahmed Tinubu has welcomed the Final Investment Decision (FID) on the Ima Gas Project.
The President described the development as an important step in Nigeria’s efforts to increase gas production and attract investment into the energy sector.
At present most of Nigeria’s gas is flarred with the country losing billions of dollars every year.
The project, being developed by Nigerian energy company AMNI International in partnership with TotalEnergies, involves an investment of about $800 million, according to the Federal Government.
TotalEnergies, however, puts the development cost at about $600 million.
The Ima gas field, located offshore near Bonny Island in Rivers State, was discovered in 1973 but remained undeveloped for more than five decades. The FID now clears the way for the partners to begin full development of the field.
A statement by the Presidential spokesperson Mr Bayo Onanuga made available to Irohinoodua said the project is expected to produce hundreds of millions of cubic feet of gas per day, with the gas transported through a pipeline to the Nigeria LNG facilities on Bonny Island. TotalEnergies said production is expected to begin in 2028.
The additional gas supply is expected to support the expansion of Nigeria LNG’s operations, particularly the development of Train 7, which is aimed at increasing the company’s liquefaction capacity.
The Presidency said the project could also create employment opportunities, strengthen local businesses and generate economic benefits for communities around the area of operation.
The Ima development is part of the Federal Government’s wider effort to attract fresh investment into Nigeria’s oil and gas industry. It is also the fourth major gas project to reach FID under the Tinubu administration, following the Iseni, Ubeta and HI gas projects.
The decision marks a significant move toward converting the Ima discovery, which has remained unused since its discovery more than 50 years ago, into a producing gas asset for Nigeria.
