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Nigeria has secured a $3.3 billion gas supply agreement for the Brass Methanol Project, marking a significant milestone in its industrialization efforts.
This project, developed in partnership with Chinese investors, aims to enhance the country's petrochemical industry by establishing a methanol production facility on Brass Island, Bayelsa State. The agreement, which includes a Gas Sales and Purchase Agreement with the Nigerian National Petroleum Company and Shell, is expected to be finalized by September 30, 2024, paving the way for construction and financial closure by the end of the year.
Citations:
[1] https://punchng.com/nigeria-partners-china-on-3-3bn-brass-methanol-project/
[2] https://businessday.ng/news/article/nigeria-chinese-firm-sign-3-3bn-deal-for-industrial-park-and-methanol-complex/
[3] https://www.brassfertilizer.com/the-project/
[4] https://advanxis.com/blog-news/largest-methanol-plant-in-africa-to-be-built-in-brass-bayelsa
[5] https://nairametrics.com/2024/09/04/chinese-company-sign-3-3-billion-agreement-with-nigerian-company-for-brass-industrial-park-methanol-complex-project/
[6] https://www.thisdaylive.com/index.php/2024/09/11/fg-says-brass-fertiliser-project-has-reached-final-stage-with-signing-of-3-3bn-industrial-park-deal/
[7] https://www.brassfertilizer.com
[8] https://en.wikipedia.org/wiki/Plastic_bag_ban
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