Julius Rone, Chief Executive Officer of UTM Offshore, has secured two prestigious accolades—New Telegraph Personality of the Year 2025 and The Sun Newspaper’s Investor of the Year—cementing his status as a transformative force in Nigeria’s energy landscape.
Dubbed the “Gas King,” Rone’s recognition stems from his leadership of Nigeria’s inaugural Floating Liquefied Natural Gas (FLNG) project, a groundbreaking initiative set to reshape the nation’s position in global energy markets.
The UTM Offshore FLNG facility is designed to deliver 1.5 million tonnes of LNG for export and 300,000 tonnes of LPG for domestic use annually. This venture, backed by President Bola Ahmed Tinubu’s administration as part of the Renewed Hope agenda, represents a significant advancement in Nigeria’s gas monetization strategy.
Strategic alliances have proven crucial to the project’s momentum. The Nigerian National Petroleum Company Limited (NNPCL) holds a 20 percent stake, while Delta State Government controls 8 percent, leaving UTM FLNG with 72 percent ownership—a structure that highlights growing institutional faith in private-sector-led energy development.
Operating from the Yoho field in Oil Mining Lease 104, approximately 60 kilometers offshore, the project will tap into 2.2 trillion cubic feet of proven reserves over two decades. The facility promises efficient gas utilization while reducing flaring and delivering cleaner energy alternatives.
Financial backing underscores the project’s credibility. Rone secured Afreximbank as lead financier, mobilizing $2 billion for the initial phase with a further $3 billion earmarked for expansion—a testament to investor confidence amid challenging global financing conditions.
Rone’s professional journey spans influential roles at OMPADEC and the Niger Delta Development Commission (NDDC) before assuming leadership of the UTM Group of Companies in 2008. His approach combines operational excellence with environmental stewardship, engaging international partners including JGC Holdings, Technip Energies, and KBR while conducting rigorous environmental assessments.
The dual awards recognize Rone as an exemplar of homegrown innovation and strategic vision, demonstrating that Nigerian enterprises can lead continent-scale infrastructure projects while adhering to global standards.
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