Nigeria Secures Gas Supply Deal with Shell for $3.8 Billion Brass Methanol Project

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ABUJA, April 18  – Nigeria has reached an agreement with Shell to supply gas to its planned $3.8 billion Brass methanol facility, marking a significant step forward in finalizing the investment decision for the project, announced the Minister of State for Gas on Thursday.

Nigeria, home to Africa’s largest natural gas reserves of over 200 trillion cubic feet, has faced challenges in harnessing this resource due to funding limitations and insufficient infrastructure.

Minister Ekperikpe Ekpo revealed in a statement that the Gas Supply and Purchase Agreement (GSPA), essential for the Brass methanol project, will be formalized next month following successful negotiations with Shell’s CEO in Nigeria and other company executives involved in the project.

The GSPA will secure a steady, long-term gas supply from a Shell-operated joint venture to fuel the methanol production facility planned for Brass Island in the oil-rich coastal Bayelsa state.

“The NNPC/Shell joint venture partners are fully committed to ensuring uninterrupted gas supply to support the development of the Brass Methanol project,” Ekpo emphasized.

He added, “President [Name] is deeply invested in this project and is eager to see positive progress by the end of May this year.”

The Brass Methanol project encompasses a gas processing plant, a methanol production and refining facility, and export infrastructure for the methanol products.


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Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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