FID: Gas Supply & Purchase Agreement For Brass Methanol Project To Be Executed By May

Present at the meeting were the Head of Joint Venture (JV), Investment Management, NNPC Upstream Investment Management Services, Mr. Olanrewaju Igandan; Deputy Managing Director, Nigerian Agip Oil Company (NAOC), Mr. Richard Orianzi; Managing Director, Shell Petroleum Development Company Nigeria, Mr. Osagie Okunbor; Managing Director of Brass Fertilizer and Petrochemical Ltd, Mr. Ben Okoye, among others.

The statement quoted Ekpo as informing  the gathering of President Bola Tinubu’s strong interest in resolving issues relating to gas supply to the Brass Methanol Project.

According to the Minister,  President Tinubu was passionate about the speedy kick off of the project so that it could bring in the much needed FDI with attendant economic benefits to the country.

“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 said.

The Brass Methanol Project, located on Brass Island in Bayelsa State, is sponsored by Brass Fertilizer & Petrochemical Company Limited (BFPCL).

The $3.8billion project is made up of a gas processing plant, a methanol production and refining plant, product export facilities, among others.

At the end of the meeting, Ekpo announced he had successfully resolved the GSPA issue and that the NNPC/SPDC JV partners are now fully committed to uninterrupted gas supply for the development of the Brass Methanol project.