The Gas Supply and Purchase Agreement to support the Final Investment Decision for the $3.8bn Brass methanol project is to be executed in May 2024, the Federal Government announced on Monday.

The Brass methanol project is a major industrial project being built in Bayelsa State to produce methanol, a key industrial chemical, using natural gas resources. Nigeria currently imports all its methanol.

Located in Brass Island, Bayelsa, the facility is to have a capacity of 10,000 tonnes of methanol per day when completed, as it is still under construction and expected to be operational this year.

The $3.8bn is to create up to 15,000 jobs during construction and aims to boost the Nigerian economy by reducing reliance on imports.

This project is a joint venture between DSV Engineering Limited, the Nigerian National Petroleum Company Limited, and the Nigerian Content Development & Monitoring Board.

The Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, announced the execution date for the gas supply agreement in Abuja on Wednesday after a meeting with key stakeholders of the project in his office.

Ekpo, in a statement issued by his media aide, Louis Ibah, said the meeting was to confirm adequate gas supply to the Brass methanol project by the NNPC/Shell/TotalEnergies/NAOC Joint Venture.


He said the meeting was to also determine the next steps to conclude and execute the GSPA and mature the phase-2 of gas supply to the project.


Present at the meeting were the Head of Joint Venture, Investment Management, NNPC Upstream Investment Management Services, Mr Olanrewaju Igandan; and Deputy Managing Director, Nigerian Agip Oil Company, Mr Richard Orianzi.

Others include the Managing Director, Shell Petroleum Development Company Nigeria, Mr Osagie Okunbor; Managing Director of Brass Fertiliser and Petrochemical Ltd, Mr Ben Okoye, among others.

Ekpo informed the gathering of President Bola Tinubu’s strong interest in resolving issues relating to gas supply to the Brass methanol project.

According to the Minister, the President was passionate about the speedy kick-off of the project so that it could bring in the much needed Foreign Direct Iinvestment with attendant economic benefits to the country.

“Mr President is very passionate about this project and wants something positive to happen in respect of the Brass methanol project before the end of May this year,” Ekpo said.

The Brass methanol project is sponsored by Brass Fertiliser & Petrochemical Company Limited and it is made up of a gas processing plant, a methanol production and refining plant, product export facilities, among others.

At the end of the meeting, Ekpo announced he had successfully resolved the GSPA issue and that it would be executed by May this year.

“The NNPC/SPDC JV partners are now fully committed to uninterrupted gas supply for the development of the Brass methanol project,” the gas minister stated.

Paraman:


https://punchng.com/fg-to-execute-3-8bn-gas-supply-agreement-in-may/?utm_source=telegram&utm_medium=social

babajero:
many of these are just propaganda projects just like buhari did almost all his projects on media space but not on ground.

Paraman:
List out this projects you're talking about with valid source

babajero:
zone b you fall come from up, abi no be Nigeria you dey? All the astronomical borrowings by buhari and relinquished abacha monies, where are the projects buhari said it was going into?.

babajero:
many of these are just propaganda projects just like buhari did almost all his projects on media space but not on ground.

mrvitalis:
Why don't we ever get to see gas earnings in Nigeria

The only time we saw gas earnings was the $5.6 billion Buhari meet when he got into office

After that we haven't heard of anything

We sell gas to power plants, we sell gas to fertilizer companies, we sell gas to private companies, we export a lot of gas

Where are the gas coming from, how much do we make from the sales, do the states get 13% derivatives too?

I don't get

Hope Uzodinma what's happening

LOVEALAIGBO:


@The bolded: i've asked this question countless number of times, and yet to get any answer! If you succeed in getting a answer, please let me know!

Hope it's now becoming clear to all and sundry why the supreme-court governor was rigged into office! He's a willing slave that's prepared not to ask any questions while the resources of his state are being carted away! He's like a pathetic husband that's willing to stand by and let a intruder screw his wife well-well!

Paraman:
A Yoruba Muslim doing what an Ogbia Christian refused to do for his people

mrvitalis:


Emeka requested for our oil back he was removed instantly

Ohakim asked for the same oil well he was removed too

Out of no where IMO state because second largest GDP in Nigeria


IMO has gas, rivers has gas in mostly Igbo region anioma has large gas, Anambra has

Enugu has untapped gas

But let's just keep quiet sha

babajero:
many of these are just propaganda projects just like buhari did almost all his projects on media space but not on ground.