Toba Owojaiye reporting
Abuja, Nigeria
In a significant move aimed at bolstering Nigeria’s energy sector, NNPC and TotalEnergies have unveiled plans to jointly invest $550 million in a state-of-the-art gas processing facility in Rivers State. This strategic initiative, poised to be situated at the Ubeta onshore gas field—a collaboration between Total and NNPC—promises to revolutionize the country’s gas processing capabilities.
Truth Live News gathered that the investment encompasses the establishment of a cutting-edge gas processing plant and associated pipeline infrastructure. This facility, once operational, is slated to significantly augment both domestic gas supply and exports, providing a crucial lifeline to the Nigeria Liquefied Natural Gas (NLNG) plant, a consortium involving NNPC, Shell, Total, and Eni.
Expected to yield 350 million standard cubic feet of gas daily alongside 10,000 barrels of associated liquids, the facility heralds a new era for Nigeria’s natural resource management. With Nigeria boasting over 200 trillion cubic feet of natural gas reserves—the largest in Africa—this move underscores a pivotal step towards optimizing resource utilization and reducing gas flaring, a long-standing environmental concern.
Analysts view this investment as a pivotal moment in President Bola Tinubu’s push to invigorate the nation’s energy landscape, potentially laying the groundwork for sustained growth and development in the sector. This ambitious venture not only promises to tap into Nigeria’s vast gas potential but also signals a concerted effort to overcome infrastructural challenges that have historically impeded optimal resource exploitation.
As anticipation builds ahead of the forthcoming announcement expected this week, stakeholders are poised to witness firsthand the transformative impact of this landmark initiative on Nigeria’s economic trajectory and global energy footprint.