A Chinese company, Beinjing Zhongmin Xin Junlong, a new energy technology company, has signed a one-billion-dollar agreement with a Nigerian Energy company, Nigus International, to provide solutions to gas flaring in the country and utilise it for energy.
Speaking at the weekend in Abuja when both companies signed the partnership papers, Chief Executive, Nigus International, Prince Malik Ado-Ibrahim, said 90 per cent of what is produced during crude oil production is flared which shows that we are not utilising the gas optimally.
“We are not a major contributor to the carbon frequency of the world but we flare a lot of our gas. 90 per cent of what is produced is flared showing that we are not utilising the gas properly,” he said.
Ibrahim said the technology the China company is bringing forth was allowing Nigeria to turn the flared gas into a liquid synthetic diesel, and also use it to create energy.
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Ibrahim noted that the big paradigm shift was that the technology would be taken to where it was needed rather than adding a lot of infrastructure and cost, hence, there would be no room for rebels to destroy pipelines.
He said the project would be beneficial to Nigerians as it would create wealth, jobs and bring Nigeria to the forefront of what was going to happen.
He said the quantity of gas flared in the first six months of 2021 was capable of generating 14,000 gigawatt-hours of electricity, and an equivalent of 7.4 million tonnes of CO2 emission.”
On his part, Mr Ying Ruming, representing Beinjing Zhongmin Xin Junlong, said in the next one month, it is hoped that the site would be announced and the technology for the project would be brought in from China to commence work.
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