SPDC JV Partners sign gas purchase agreement for $3.5bn Brass project

The federal government has signed a Gas Sales and Purchase Agreement (GSPA) for the Brass Fertiliser and Petrochemical project in Bayelsa State.

This landmark agreement, supervised by the Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, paves the way for the Brass Fertiliser and Petrochemical Company Limited (BFPCL) and its partners to achieve financial close for the Brass Fertiliser and Methanol Project.

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The JV Partners, comprising NNPC Ltd, Shell Petroleum Development Company (SPDC), TotalEnergies Ltd, and Eni, will supply 270 million standard cubic feet of gas per day (270MMscfd) to BFPCL, the largest single GSPA to any domestic gas off-taker in Nigeria.

This project is expected to generate over $1.5 billion annually from exports of fertilisers, petrochemicals, and other gas-based products, a statement by Louis Ibah, spokesman for the Minister of State Petroleum Resources (Gas) indicated.