Future Union Qatar Signs Landmark $2bn LNG Investment MOU in Nigeria

Mary Nnah

Future Union Qatar has taken a significant step towards strengthening Nigeria’s energy sector with the signing of a landmark Memorandum of Understanding (MOU) for investment in a Liquefied Natural Gas (LNG) project being developed by International Energy Services Limited (IESL).

A press release made available to THISDAY on Monday noted the historic agreement was formally signed in Qatar by Dr. Diran Fawibe, Chairman of IESL and former representative of Nigeria at the Organisation of the Petroleum Exporting Countries (OPEC), alongside members of IESL’s leadership team, including the Group Managing Director, Engr Adebayo Ige.

The Future Union delegation was led by its Chairman, Sheikh Abdulrahman Al-Thani.

The MOU was officially endorsed by Dr. Abdelgalil Sharaf, Chief Executive Officer of Future Union, together with Dr. Diran Fawibe, marking the commencement of a major long-term investment partnership between both organisations.

The LNG project is expected to play a transformative role in Nigeria’s energy landscape by expanding gas production capacity, supporting gas exports, and creating substantial employment opportunities for Nigerians across the energy value chain.

Speaking at the event, Princess Adebowale Odutola, Chairman of Elan Vert Nigeria Limited, who was present at the signing, described the agreement as a milestone moment for Nigeria–Qatar economic collaboration.

She confirmed the MOU represents the beginning of Future Union’s promised investment drive in Nigeria, with implementation planned progressively over the next ten years.

“This agreement reinforces investor confidence in Nigeria’s energy sector and demonstrates Future Union’s commitment to long-term, sustainable development in the country,” she stated.

The partnership underscores a shared vision to promote energy security, economic growth, and international cooperation, positioning Nigeria as a strategic hub for LNG development and export in Africa.