Gas Supply And Purchase Agreement For Brass Methanol Project Begins May

The Gas Supply and Purchase Agreement to support the Final Investment Decision for the Brass Methanol Project will be executed by May, 2024.

Nigeria’s Minister of State Petroleum Resources Gas, Ekperikpe Ekpo made this known after a meeting with key stakeholders of the project in his office in Abuja.

Ekpo said the meeting was to confirm adequate gas supply to the Brass Methanol Project by the NNPC/Shell/TotalEnergies/NAOC Joint Venture (JV), as well as determine the next steps to conclude and execute the Gas Supply and Purchase Agreement and mature the phase 2 of gas supply to the project.

The Minister who reiterated President Bola Tinubu’s strong interest in resolving issues relating to gas supply to the Brass Methanol Project said the President was passionate about the speedy kick off of the project so that it could bring in the much needed Final Investment Decision with attendant economic benefits to the country.

He said “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”.

At the end of the meeting, Ekperikpe Ekpo announced that he has 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,” Ekpo added.

Present at the meeting were the Head of Joint Venture (JV), Investment Management, NNPC Upstream Investment Management Services, Mr. Olanrewaju Igandan; Deputy Managing Director, Nigerian Agip Oil Company (NAOC), Mr. Richard Orianzi; Managing Director, Shell Petroleum Development Company Nigeria, Mr. Osagie Okunbor; Managing Director of Brass Fertilizer and Petrochemical Ltd, Mr. Ben Okoye, among others.

The Brass Methanol Project which is located on Brass Island in Bayelsa State and sponsored by Brass Fertilizer and Petrochemical Company Limited is a 3.8 billion dollar project made up of a gas processing plant, a methanol production and refining plant, product export facilities, among others.

Olusola Akintonde