The Nigerian National Petroleum Corporation (NNPC) has signed a deal with Shell, TotalEnergies, and Agip to supply gas to the $3.3 billion methanol-manufacturing plant of Brass Fertilizer & Petrochemical Company Ltd. Under the terms of the agreement, the NNPC and its partners will supply 270 million standard cubic feet of gas daily to the plant, which will be situated on Brass Island, Bayelsa State.
With the deal in place, Brass Fertilizer & Petrochemical Company and its partners will commence construction of the plant. The Nigerian government estimates that the project will generate over $1.5 billion annually from exports of fertilizers and petrochemicals. Additionally, the plant is expected to reduce Nigeria’s fertilizer imports by 30%, saving $200 million in foreign exchange. The initiative forms part of a broader effort to make Nigeria a hub for petrochemical and industrial activities, with commitments totaling $3.5 billion in various projects in the Brass Oil and Gas City.
Source: africa.com