Nigeria’s most high-profile floating liquefied natural gas project has been given a major boost after Cairo-based Afreximbank agreed to play a bigger role in ensuring the development is commercially viable.

Lagos-based UTM Offshore plans to use 1.1 trillion cubic feet of associated gas from the shallow water Yoho field to feed a new 1.2 million tonnes per annum FLNG vessel, with a proposed on stream date of 2026.