The federal government on Thursday signed deals with ten businesses to build gas processing facilities and other infrastructure related to gas supply.
Joint venture investment agreements between the 10 gas infrastructure entrepreneurs and the Midstream and Downstream Infrastructure Fund (MDIF) were signed in Abuja.
Join our WhatsApp community
These agreements consist of the Joint Venture Accounts Agreement, the Joint Venture Equity Agreement, and the Joint Venture and Operating Agreement.
Some of the companies involved in the deals are Ant Energy Limited, Sub Sea 9 gas, Waterdance International Concepts and LNG Arete.
Speaking at the ceremony, Ekperikpe Ekpo, the Minister of State Petroleum Resources, stated that the agreements were a component of the government’s endeavours to unleash the gas industry’s full potential.
According to Ekpo, the agreements demonstrated a deep commitment to promoting growth, improving energy security, and creating a resilient economy for future generations, in addition to bringing national priorities into line with realistic action.
Join our WhatsApp community
He further revealed that in the “first year of this administration, the MDGIF supported six companies within the midstream and downstream space, promoting innovation and efficiency in the processing, distribution, and utilization of natural gas”.
According to him, “This Fund, and the partnerships it fosters, will pave the way for integrated gas infrastructure, bridging gaps that have long hindered progress. These advancements will not only connect regions but also create a ripple effect of opportunities across industries. From agriculture to manufacturing, and even digital innovation, the impact of a robust gas sector reverberates far beyond energy”.
In similar developments, the Federal Government yesterday announced the commencement of Project CNG Sprawl, which calls for the construction of CNG conversion and refuelling facilities in 20 campuses nationwide.
Ekperikpe Ekpo, Minister of State Petroleum Resources, announced the project’s launch in Abuja and explained that it was a part of the government’s attempts to give university employees and students access to more affordable transportation.
According to the reports, students will be transported by CNG-powered buses and tricycles as part of the project, which is also supported by MDIF.
Join Our Social Media Channels:
WhatsApp: NaijaEyes
Facebook: NaijaEyes
Twitter: NaijaEyes
Instagram: NaijaEyes
TikTok: NaijaEyes
