The Shell Petroleum Development Company (SPDC) and its joint venture (JV) partners have finalized a gas sale and purchase agreement (GSPA) for the $3.5 billion Brass Fertilizer and Petrochemical Project in Bayelsa State.
The JV partners include SPDC, Nigerian National Petroleum Company (NNPC) Limited, TotalEnergies Ltd, and Eni.
A statement from the Ministry of Petroleum Resources revealed that the significant agreement, overseen by Minister of State for Petroleum Resources (Gas) Ekperikpe Ekpo, paves the way for Brass Fertilizer and Petrochemical Company Limited (BFPCL) and its partners to reach financial closure for the Brass Fertilizer and Methanol Project.
According to the ministry, the JV partners will provide 270 million standard cubic feet of gas daily (scfd) to BFPC