Chinese firm Beijing Zhogmin Xinjunlong New Energy Technology Company Ltd. and Nigerian firm NIGUS International have inked a groundbreaking $1 billion deal to finance and implement gas flaring solutions in Nigeria.
This significant agreement aims to curb gas flaring, propelling Nigeria into the realm of Green Sustainable Energy Production.
During the signing ceremony, HRH Malik Ado Ibrahim, CEO and Chairman of NIGUS, highlighted the partnership’s goal to integrate state-of-the-art technology for converting flared gas into commercial use.
The innovative technology includes Gas-to-Liquid (GTL) processes, generating synthetic diesel to enhance the energy mix, Liquefied Natural Gas (LNG) for export, and Liquefied Petroleum Gas (cooking gas).
GTL technology, converting natural gas into high-quality liquid fuels, such as gasoline, jet fuel, and diesel, will play a crucial role in this initiative.
Malik Ado Ibrahim emphasized that the collaboration between NIGUS and the Chinese company aims to bring a clean climate economy to Nigeria, extracting value from currently wasted resources and providing lower-cost energy solutions.
Nigeria, with a staggering 90% of produced gas being flared, seeks to significantly reduce its carbon footprint through this strategic partnership.
