FG Approves Gas Supply To $3.3bn Methanol Plant

The Federal Government, through the Nigerian National Petroleum Company Limited, has signed an agreement to begin gas sales to the methanol-manufacturing project of the $3.3bn Brass Fertilizer & Petrochemical Company Ltd.

Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, stated at the signing ceremony held at the ministry’s headquarters that the gas sales-and-purchase agreement was signed with Shell, TotalEnergies, and Agip on Friday in Abuja, nine years after the project was initially announced.

“According to him, the signing represented a significant milestone in ongoing efforts to monetize Nigeria’s vast gas reserves,”

He said that the deal marked a critical turning point in the attempts to quickly industrialize and expand the economy by utilizing the plentiful natural gas resources.

“I urge all parties to continue in the same steadfastness that has enabled us to surmount all previous hurdles,” the minister said in his address, “because this signing ceremony is a significant milestone in the development of the US$3.3 billion Brass Methanol Project, it is one more step in the journey to making the project a reality.”

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