Nigeria signs deal to supply gas to proposed $3.5 billion petrochemical plant
By Camillus Eboh
ABUJA, Oct 11 (Reuters) -Nigeria took a major step in its quest to earn revenue from its vast gas reserves, signing a deal with joint venture partners to supply gas to a proposed $3.5 billion Brass fertilizer and petrochemical plant, an official said on Friday.
Under the agreement, joint venture partners including Shell SHEL.L, TotalEnergies TTEF.PA and Eni ENI.MI will deliver an estimated 270 million standard cubic feet of gas per day to the plant in Brass, in Nigeria's coastal Bayelsa state.
Petroleum Ministry Permanent Secretary Nicholas Agbo Ella said the Gas Sale and Purchase Agreement is a part of the Brass Fertilizer and Petrochemical Project, which is expected to generate at least $1.5 billion annually from exports of petrochemicals and other gas-based products.
"This agreement represents a significant milestone in our ongoing efforts to monetize Nigeria's vast gas reserves," Ella said.
Nigeria, Africa's top energy producer, holds the continent's largest gas reserves of more than 200 trillion cubic feet and seeks to develop the commodity to boost supplies to industries, power plants and for exports, and to end routine flaring by 2030.
"In addition to boosting exports, the project will reduce fertilizer imports by 30%, saving Nigeria approximately $200 million in foreign exchange annually," Ella said.
Writing by Elisha Bala-Gbogbo; Editing by Bill Berkrot
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
