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Nigerian gas tycoon Julius Rone advocates for foreign investment to drive African energy

Gas sector resurgence: Rone advocates innovation in Nigeria's energy agenda

by Mfonobong Nsehe
Julius Rone

In a compelling address during the seventh edition of the Nigeria International Energy Summit, Julius Rone, a distinguished Nigerian gas tycoon and the CEO of UTM Offshore, emphasized the critical need to attract foreign investment in the gas sector for driving economic progress across African nations.

A central figure in Nigeria’s energy sector, Rone outlined his vision for leveraging international partnerships to tap into the vast untapped natural gas reserves across the continent. Focusing on collaboration with global investors, he detailed a strategic blueprint geared towards fostering economic growth, job creation, and the establishment of sustainable energy ecosystems.

Gas sector resurgence: Rone advocates innovation in Nigeria’s energy agenda

During his keynote speech, Rone explored key themes such as energy security, transition, and the financial aspirations of petroleum producers. Advocating for a multifaceted approach centered on innovation, agility, sustainability, financial resilience, and adaptability, he provided a comprehensive strategy to effectively navigate the evolving energy landscape.

Emphasizing the importance of indigenous technological advancements, Rone unveiled plans for Nigeria’s first indigenous-owned floating LNG facility by 2028. He highlighted governmental support and regulatory frameworks as critical enablers for such initiatives, underscoring the imperative of technological innovation in propelling Nigeria’s gas sector forward.

Rone shared insights from discussions with Nigeria’s leadership, particularly noting the administration’s renewed focus on gas as a catalyst for national development. He recounted clear directives from the President to prioritize Nigeria’s role in gas supply and expedite technological advancements to advance the nation’s energy agenda.

Julius Rone: Pioneering Africa’s energy evolution through UTM Offshore

Julius Rone, a prominent figure in the Nigerian oil and gas sector, stands as the visionary behind UTM Offshore Limited, a conglomerate with diverse interests in the energy and maritime markets. Established in July 2012, UTM Offshore leads in driving innovation and facilitating strategic partnerships to shape the future of Africa’s energy landscape.

Affirming Nigeria’s leadership in setting the stage for African energy development, Rone stressed the importance of showcasing the continent’s readiness to attract foreign investment. Advocating for a proactive approach, he championed technology transfer, capital infusion, and collaborative efforts to harness Africa’s natural gas wealth for sustainable growth.

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