Business

FG Signs Deal To Supply Gas To Shell’s $3.8bn Methanol Facility

Nigeria boasts Africa’s largest natural gas reserves, exceeding 200 trillion cubic feet.

By Musa Ibrahim

The federal government has struck a deal with Shell to provide gas to its planned $3.8 billion Brass methanol facility. According to the Minister of State for Gas, Ekperikpe Ekpo, this marks a significant step towards finalizing the investment decision for the project.

Nigeria boasts Africa’s largest natural gas reserves, exceeding 200 trillion cubic feet, yet faces challenges in fully utilizing this resource due to capital constraints and insufficient infrastructure.

Ekpo stated that the Gas Supply and Purchase Agreement (GSPA), crucial for the Brass methanol project, will be formally signed next month after productive discussions with Shell’s Nigeria CEO and other involved executives.

The GSPA secures a long-term gas supply from a joint venture controlled by Shell for the methanol production facility planned for Brass Island in the oil-rich coastal state of Bayelsa.

The statement read: “The NNPC/Shell joint venture partners are now fully committed to uninterrupted gas supply for the development of the Brass Methanol project.

“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.”

The Brass Methanol project includes a gas processing plant, a facility for methanol production and refining, as well as infrastructure for exporting the methanol products.

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