Gas Supply Agreement for Brass Methanol Project Scheduled for May Execution, Announces Minister Ekperikpe Ekpo.
The Gas Supply and Purchase Agreement (GSPA), pivotal for the advancement of the Brass Methanol Project, is slated to be finalized and executed by May 2024, as announced by Rt. Hon. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), following a crucial meeting held in his NNPC Towers Abuja office.
The meeting brought together key stakeholders of the project, including representatives from NNPC, Shell, TotalEnergies, and NAOC Joint Venture, with the aim of ensuring adequate gas supply for the Brass Methanol Project and devising strategies for concluding the GSPA and progressing to phase 2 of gas supply.
Among the attendees were Mr. Olanrewaju Igandan, Head of Joint Venture (JV) Investment Management at NNPC Upstream Investment Management Services; Mr. Richard Orianzi, Deputy Managing Director of Nigerian Agip Oil Company (NAOC); and Mr. Osagie Okunbor, Managing Director of Shell Petroleum Development Company Nigeria, alongside Mr. Ben Okoye, Managing Director of Brass Fertilizer and Petrochemical Ltd, among others.
Minister Ekpo emphasized President Bola Tinubu’s keen interest in resolving gas supply challenges associated with the Brass Methanol Project, highlighting the President’s eagerness for rapid progress to attract vital foreign direct investment (FDI) and spur economic growth.
“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,” Ekpo affirmed during the meeting.
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Located on Brass Island in Bayelsa State, the Brass Methanol Project, sponsored by Brass Fertilizer & Petrochemical Company Limited (BFPCL), is a $3.8 billion initiative encompassing a gas processing plant, methanol production and refining facilities, and product export infrastructure, among other components.
Minister Ekpo concluded the meeting on an optimistic note, announcing the successful resolution of the GSPA issue and the firm commitment of NNPC/SPDC JV partners to ensure uninterrupted gas supply for the project’s development.
