THE Nigerian National Petroleum Company (NNPC) Limited has signed a partnership with Shell, TotalEnergies, and Agip to complete a historic agreement to supply gas to a $3.3 billion methanol plant being developed by Brass Fertilizer & Petrochemical Company Limited in Bayelsa State.
The Minister of State for Petroleum (Gas), Ekperikpe Ekpo who disclosed this in a statement on Friday after signing the sales-and-purchase agreement, described the development as a significant effort towards harnessing the review of Nigeria’s vast gas reserves.
“The accord will enable Brass and its partners to proceed with the construction of the $3.3 billion project,” he said.
Accordingly, the state-owned oil company and its partners are expected to supply approximately 270 million standard cubic feet of gas per day to the project, situated on Brass Island in Bayelsa state, southern Nigeria.
The minister stressed that the Nigerian government anticipates the project will generate over $1.5 billion annually from exports of fertilizers, petrochemicals, and other gas-derived products.
Eighteen-Eleven Media