UTM Offshore Chief Executive Officer (CEO) to Join Industry Leaders at Invest in African Energy (IAE) 2025
As the leader of offshore energy, UTM Offshore CEO Julius Rone has been confirmed to speak at the upcoming African Energy (IAE) 2025 Forum in Paris. UTM Offshore is currently playing a key role in Nigeria’s energy sector, including the development of the country’s first floating liquefied natural gas (FLNG) facility and extensive investment in the future of African energy.
The company’s $5 billion UTM FLNG project continues to advance, achieving significant milestones in design, construction and production timelines. 2.8 The MTPA facility is expected to make a significant contribution to Nigeria’s LNG capacity, thereby enhancing the country’s position in the global energy market. In September 2024, UTM Offshore obtained permission from the federal government of Nigeria to build the project, bringing it closer to making the final investment decision, which is expected to take place in 2025.
IAE 2025 ((apo-opa.co/3qlfj69) is an exclusive forum designed to promote investment between the African energy market and global investors. The event, held in Paris from May 13 to 14, 2025, provides representatives with a two-day intensive interaction with industry experts, project developers, investors and policy makers. For more information, please visit www.invest-africa-energy.com. To sponsor or attend a representative, please contact us sales@energycapitalpower.com.
The UTM FLNG facility is a classic example of the steps required to ensure large-scale natural gas projects receive substantial funding, including diversified funding sources, ensuring that agreements are avoided and government support is obtained. According to Rone, UTM Offshore signed a memorandum of understanding with the African Export-Import Bank of Africa in 2021, which raised up to $2 billion for the project. The bank has since received preliminary approval for a $350 million investment, while UTM has obtained a contract with JGC Corp and KBR Inc. for the design of the facility. In addition, Vitol Group has signed an unreceived agreement for liquefied natural gas, and last year UTM signed an agreement with Nigeria Petroleum Corporation to acquire a 20% stake in the project.
UTM Offshore’s participation in IAE 2025 highlights the company’s commitment to maximize the return on investment in the African energy sector, especially through projects like UTM FLNG, which connects global investment communities to emerging energy opportunities in Africa. As Africa becomes an increasingly important player in the global energy environment, the UTM Offshore Program represents the continent’s ability to provide sustainable energy solutions while fostering collaboration with international investors and stakeholders.
Distribution by Apo Group on behalf of energy capital and power.
