By Sulaimon Salau

Plans are at advanced stage by the Federal Government to initiate a new Gas Sales Purchase Agreement (GSPA) for the Brass Methanol Project, which is expected to will inject $3 billion into Nigeria’s gas industry.

The Minster of State for Petroleum Resources (Gas), Ekperikpe Ekpo, who disclosed this during the 2024 Strategic International Conference of the Association of Energy Correspondents of Nigeria Conference (NAEC), in Lagos, said this investment will not only enhance Nigeria’s position in the global gas market but also stimulate the local economy by creating jobs and expanding our industrial base.

He said: “We are well aware of the financial challenges involved in driving energy development in Nigeria, particularly in the gas sector. However, we are making significant strides in unlocking investments. One major milestone is the forthcoming Gas Sales Purchase Agreement (GSPA) for the Brass Methanol Project, which will inject $3 billion into Nigeria’s gas industry. This investment will not only enhance Nigeria’s position in the global gas market but also stimulate the local economy by creating jobs and expanding our industrial base,”

He said, “In Nigeria, we have abundant natural gas, which is more environmentally friendly than other fossil fuels, and offers a crucial opportunity to serve both domestic and international markets. It is through gas that we can address our energy access challenges, power our industries, and improve the standard of living for our people. But it also provides us with the flexibility to meet our global commitments to reduce carbon emissions, making it a vital component in our transition to cleaner energy”.

Ekpo assured that, “as contained in the Petroleum Industry Act PIA 2021, we have constituted the Midstream and Downstream Gas Infrastructure Fund (MDGIF) to address critical financing gaps in infrastructure development. This will go a long way in ensuring that our gas resources are efficiently harnessed and delivered to the market”.

He, however, applauded the members of NAEC for their unwavering commitment to the growth of Nigeria’s petroleum sector.

“I want to recognize the vital role that you members of the press play in shaping public discourse, enhancing transparency, and promoting accountability within our energy sector.

“As the Fourth Estate of the realm, you provide the vital link between government policy, industry developments, and the broader public. Through your dedication, you ensure that information is communicated clearly, responsibly, and truthfully, which is key in building trust and fostering progress in the energy space.

“Your role in transmitting crucial energy information to the media and the public contributes greatly to ensuring that Nigerians remain informed and engaged in the ongoing national dialogue on energy.

“Your work allows stakeholders to make informed decisions, and your balanced reporting creates an enabling environment for discourse on the challenges and opportunities in the energy transition. I commend you for your commitment to the task and encourage your continued efforts as we work towards a prosperous energy future for Nigeria,” he said.

By Sulaimon Salau

Plans are at advanced stage by the Federal Government to initiate a new Gas Sales Purchase Agreement (GSPA) for the Brass Methanol Project, which is expected to will inject $3 billion into Nigeria’s gas industry.

The Minster of State for Petroleum Resources (Gas), Ekperikpe Ekpo, who disclosed this during the 2024 Strategic International Conference of the Association of Energy Correspondents of Nigeria Conference (NAEC), in Lagos, said this investment will not only enhance Nigeria’s position in the global gas market but also stimulate the local economy by creating jobs and expanding our industrial base.

He said: “We are well aware of the financial challenges involved in driving energy development in Nigeria, particularly in the gas sector. However, we are making significant strides in unlocking investments. One major milestone is the forthcoming Gas Sales Purchase Agreement (GSPA) for the Brass Methanol Project, which will inject $3 billion into Nigeria’s gas industry. This investment will not only enhance Nigeria’s position in the global gas market but also stimulate the local economy by creating jobs and expanding our industrial base,”

He said, “In Nigeria, we have abundant natural gas, which is more environmentally friendly than other fossil fuels, and offers a crucial opportunity to serve both domestic and international markets. It is through gas that we can address our energy access challenges, power our industries, and improve the standard of living for our people. But it also provides us with the flexibility to meet our global commitments to reduce carbon emissions, making it a vital component in our transition to cleaner energy”.

Ekpo assured that, “as contained in the Petroleum Industry Act PIA 2021, we have constituted the Midstream and Downstream Gas Infrastructure Fund (MDGIF) to address critical financing gaps in infrastructure development. This will go a long way in ensuring that our gas resources are efficiently harnessed and delivered to the market”.

He, however, applauded the members of NAEC for their unwavering commitment to the growth of Nigeria’s petroleum sector.

“I want to recognize the vital role that you members of the press play in shaping public discourse, enhancing transparency, and promoting accountability within our energy sector.

“As the Fourth Estate of the realm, you provide the vital link between government policy, industry developments, and the broader public. Through your dedication, you ensure that information is communicated clearly, responsibly, and truthfully, which is key in building trust and fostering progress in the energy space.

“Your role in transmitting crucial energy information to the media and the public contributes greatly to ensuring that Nigerians remain informed and engaged in the ongoing national dialogue on energy.

“Your work allows stakeholders to make informed decisions, and your balanced reporting creates an enabling environment for discourse on the challenges and opportunities in the energy transition. I commend you for your commitment to the task and encourage your continued efforts as we work towards a prosperous energy future for Nigeria,” he said.