The Managing Director of UTM Offshore will provide an update on the $5 billion FLNG project in Nigeria as well as the role LNG and FLNG play in fast tracking the monetization of African gas.
The African Energy Chamber (AEC) is proud to announce that Julius Rone, Group Managing Director of Nigerian energy conglomerate UTM Offshore, will participate as a keynote speaker at this year’s African Energy Week (AEW) conference and exhibition, which will take place from 18 – 21 October 2022 in Cape Town. Representing one of Nigeria’s engineering heavyweights pushing for the rapid development of energy infrastructure, the participation of Rone as a keynote speaker at Africa’s premier event for the oil and gas sector is crucial for shaping discussions around Africa’s energy future.
A business administration graduate with the Obafemi Awolowo University and the University of Calabar, Rone has vast experience across the water, logistics, maritime, construction and energy sectors. Since the establishment of UTM Offshore in 2012, Rone’s dedication has enabled the firm to expand dredging, marine, offshore support and construction services across Nigeria and the west African region. As a result, UTM Offshore is now counted among west Africa’s regional energy giants with the firm embarking on a series of partnerships with regional and international governments and companies including Japan’s JGC, Samsung Heavy Industries and US-based KBR to fast-track the development of oil and gas resources.
Notably, under the leadership of Rone, the company is spearheading the expansion of Nigeria’s gas market in line with the government’s Decade of Gas Initiative – which aims to make energy poverty history through the maximization of gas – the is well positioned to shape discussions around the role the continent’s 620 trillion cubic feet of natural gas resources play in lifting the over 600 million people out of energy poverty and providing access to clean cooking to some 900 million people across the continent whilst driving industrialization and economic growth.
Having signed an agreement with the African Export-Import Bank to co-fund the development of Nigeria’s first floating liquefied natural gas (FLNG) project – a $5 billion facility that will produce 1.2 million metric tons of liquefied natural gas (LNG) per annum from ExxonMobil and the Nigerian National Petroleum Corporation’s Yoho Gas Field – UTM Offshore is driving change across Nigeria’s gas market. With UTM Offshore planning to take a final investment decision on the $5 billion FLNG project in the second quarter of 2023, AEW 2022 presents the best platform for Rone to provide an update on the megaproject and share insights on the impact the project has for ensuring a sustainable future for Nigerians and Africans at large through expanding access to cleaner, safer and reliable energy.
“I am so proud of what Julius is doing with gas. We just need more success in Africa, but we need to nurture it, empower it, reward it, and celebrate it. African entrepreneurs like Julius will help create an African gas revolution that will help transform our continent and the economies of many countries. A great opportunity to share his story about building from bottom up and open conversations about opportunities with service providers. Stated NJ Ayuk, the Executive Chairman of the AEC.
“With abundant gas reserves, amazing technologies like FLNG, and an entrepreneurial spirit, Nigeria and Africa will move towards becoming energy self-reliant. Julius’s gas investments will open the door to a previously unimaginable opportunity that will help invigorate a sluggish post covid economic recovery, speed up job creation, spur new investment, and help us defeat the twin evils of energy poverty and climate change,” Concluded Ayuk.
Under the theme, ‘Exploring and Investing in Africa’s Energy Future while Driving an Enabling Environment,’ AEW 2022 will host Rone in panel discussions and high-level meetings to discuss investment and regulatory barriers hindering the growth of the African gas market and solutions available to address industry barriers.
AEW 2022 is the AEC’s annual conference, exhibition and networking event. AEW 2022 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments. Key organizations such as the African Petroleum Producers Organization, as well as African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW, strengthening the role the event will play in Africa’s energy future.