Niger Delta–born oil and gas magnate and Chief Executive Officer of UTM Offshore, Julius Rone, has received national recognition from two leading Nigerian newspapers for his remarkable contributions to the country’s oil and gas industry.
Rone, widely referred to as the “King of Gas,” was named New Telegraph Personality of the Year 2025 for his transformative impact on Nigeria’s gas sector. He also emerged as Sun Newspaper’s Investor of the Year, further highlighting his influence and leadership in the industry.
Central to these accolades is UTM Offshore’s groundbreaking Floating Liquefied Natural Gas (FLNG) project, the first of its kind in Nigeria. The project represents a major leap in innovative gas monetization, aimed at reducing gas waste while providing cleaner energy solutions for both local use and international markets.
The FLNG facility is projected to produce 1.5 million tonnes of LNG annually for export, alongside 300,000 tonnes of LPG for domestic consumption. This initiative is expected to usher in a new era of growth for Nigeria’s LNG sector and enhance the country’s standing in the global energy market. The project aligns fully with President Bola Ahmed Tinubu’s Renewed Hope Agenda and Nigeria First policy, enjoying strong federal government support.
A key driver of the project’s progress has been Rone’s strategic partnership-building. In 2023, the Nigerian National Petroleum Company Limited (NNPCL) acquired a 20 percent equity stake, while the Delta State Government secured 8 percent, with UTM FLNG retaining a majority 72 percent ownership.
These partnerships reflect increasing confidence in indigenous expertise and private-sector leadership within Nigeria’s oil and gas industry.
The UTM FLNG facility, situated at the Yoho Field under Oil Mining Lease 104, will utilize an estimated 2.2 trillion cubic feet of proven gas reserves over a projected lifespan of 20 years.
