Chinese, Nigerian firms sign $1bn gas flaring deal
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Chinese, Nigerian firms sign $1bn gas flaring deal

Beijing Zhogmin Xinjunlong New Energy Technology Company Ltd., a Chinese firm, and NIGUS International, a Nigerian firm, have entered into a groundbreaking $1 billion agreement aimed at financing and advancing solutions to address gas flaring in Nigeria.

This significant deal holds the potential to eradicate gas flaring in Nigeria, propelling the nation into the realm of sustainable green energy production worldwide.

During the signing ceremony, HRH Malik Ado Ibrahim, CEO, and Chairman of NIGUS, emphasized that the collaboration with the Chinese company is focused on integrating cutting-edge technology to convert flared gas into commercially viable products. The introduced technology is designed to facilitate Gas-to-Liquid (GTL) processes, producing synthetic diesel to enhance the energy mix, Liquefied Natural Gas (LNG) for export, and Liquefied Petroleum Gas (cooking gas), among other outputs.

GTL technology, a transformative process, converts natural gas—the cleanest burning fossil fuel—into high-quality liquid fuels like gasoline, jet fuel, and diesel.

Ibrahim highlighted the joint venture’s goal of combining NIGUS’ expertise as a renewable energy company with state-of-the-art technology. This partnership aims to usher in a clean and climate-friendly economy in Nigeria, extracting value from currently wasted resources and generating more affordable energy. He pointed out that Nigeria currently flares approximately 90% of its produced gas, contributing significantly to environmental concerns and the carbon footprint. The collaborative effort seeks to address this issue and transform the country’s energy landscape.

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