The Nigerian National Petroleum Company Limited (NNPCL) and TotalEnergies (TTEF) will invest $550 million to develop a gas processing facility in Rivers State in southern Nigeria to boost exports and domestic supplies of gas.
According to the report by Vanguard newspaper on Thursday, the investment will include a gas processing plant and a pipeline.
The Vanguard newspaper, quoting a report from Reuters, said that a formal announcement of the planned project would be made this week.
It added that the gas processing facility will be built on the Ubeta onshore gas field, jointly owned by Total and NNPCL, and will supply gas to the Nigeria Liquefied Natural Gas (NLNG) plant.
The plant on completion, will generate 350 million standard cubic feet per day of gas and 10,000 barrels per day of associated liquids, the report said quoting a source from the NNPCL.
Nigeria, which holds Africa’s largest natural gas reserves of more than 200 trillion cubic feet, flares gas from its oil fields because it lacks processing infrastructure and faces capital constraints.
GIK/APA
TotalEnergies, NNPCL plan $550m investment in gas sector
