Nigeria’s Minister of State for Petroleum Resources (Gas) Ekperikpe Ekpo is scheduled to deliver a keynote address at the African Energy Week (AEW): Invest in African Energy 2024 conference in Cape Town from November 4-8. Minister Ekpo’s participation comes after the launch of three new gas projects in Nigeria aimed at increasing gas supply by 25%.
President Bola Tinubu recently launched the expanded AHL Gas Processing Plant, ANOH Gas Processing Plant, and the 23.3-km ANOG to Obiafu-Obrikom-Oben Custody Transfer Metering Station Gas Pipeline in Nigeria. These projects, collectively producing around 500 million standard cubic feet of gas per day, are targeted to supply the domestic market. This development is expected to fuel growth in the country through gas and position Nigeria as an attractive investment destination for global investors by establishing crucial gas infrastructure.
AEW: Invest in African Energy is the go-to platform for project operators, financiers, technology providers, and government officials and has become the official place for business deals in African energy. For more details about this event, visit www.AECWeek.com.
To tap into Nigeria’s substantial gas potential, the country aims to strengthen its position in the global energy market and become a top-10 destination for energy investments. Recently, TotalEnergies and NNPC announced a $550 million FID for the Ubeta gas field development, projected to produce 350 million cubic feet of gas and 10,000 barrels of associated liquids per day by 2027. The project involves extracting gas from six wells and transporting it through an 11-km pipeline to processing facilities in Obite. Additionally, the African Export-Import Bank and First Bank of Nigeria signed a $200 million loan facility agreement to support clients in various sectors including oil and gas, energy, manufacturing, and telecommunications.
Furthermore, NNPC signed a project development agreement with Golar LNG to deploy a floating LNG vessel in the Niger Delta region offshore Nigeria. This agreement aims to monetize 400-500 million standard cubic feet of gas per day by producing LNG, liquefied petroleum gas, and condensate. FID for this project is expected by Q4 2024, with the first gas production anticipated in 2027.
Minister Ekpo’s involvement at AEW: Invest in African Energy will highlight Nigeria’s conducive environment, favorable investment policies, and attractive returns in the oil and gas sector. During the event, he will discuss the Ministry’s vision for the natural gas sector, focusing on expanding domestic gas usage, enhancing gas-fired generation capabilities, and establishing various downstream industries. As the Co-Chairman of the Governing Council of the Nigerian Content Development and Monitoring Board, Minister Ekpo will also outline the importance of gas exploration and development in creating employment opportunities, upskilling the local workforce, and facilitating knowledge and technology transfer.
Exec Chairman of the African Energy Chamber, NJ Ayuk, commends Minister Ekpo’s efforts in providing energy access to millions of Africans while driving socioeconomic development in Nigeria and West Africa. The Chamber is optimistic about the progress made so far, including significant FIDs on major gas projects, and looks forward to Nigeria’s leadership in promoting gas development at this year’s AEW conference.
Distributed by APO Group on behalf of African Energy Chamber.