The Federal Government has announced plans to execute $3.8 billion Gas Supply and Purchase Agreement (GSPA) for the Brass methanol project.
The Brass methanol project set to take place in May 2024, stands as a beacon of industrial innovation, poised to transform Nigeria’s chemical landscape by producing methanol from natural gas resources.
Presently, Nigeria relies entirely on methanol imports, making this venture a strategic effort to reduce dependency on foreign markets and stimulate domestic production.
Scheduled for construction on Brass Island, Bayelsa, the facility aims to churn out an impressive 10,000 tonnes of methanol per day upon completion.
Not only is this undertaking expected to revolutionize the local chemical industry, but it also holds promise in terms of job creation, with projections indicating up to 15,000 employment opportunities during the construction phase alone.
This monumental project is a collaborative effort between DSV Engineering Limited, the Nigerian National Petroleum Company Limited, and the Nigerian Content Development & Monitoring Board. With such esteemed partners at the helm, the Brass methanol project signifies a union of expertise and resources aimed at driving Nigeria’s economic growth.
The announcement of the impending GSPA execution came from the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, following a meeting with key stakeholders. Emphasizing the importance of timely action, Minister Ekpo highlighted President Bola Tinubu’s unwavering commitment to seeing the project through fruition.
Ekpo expressed, “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.”
The Brass methanol project, spearheaded by Brass Fertiliser & Petrochemical Company Limited, encompasses a comprehensive infrastructure including a gas processing plant, methanol production and refining plant, and product export facilities.
Minister Ekpo affirmed that the NNPC/Shell/TotalEnergies/NAOC Joint Venture partners are fully committed to ensuring uninterrupted gas supply for the Brass methanol project’s development.
