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The Shell Petroleum Development Company (SDPC) Joint Venture and partners on Friday signed a Gas Sales and Purchase Agreement (GSPA) for the Brass Fertiliser and Petrochemical project in Bayelsa State.

The spokesperson for the Minister of State Petroleum Resources (Gas), Louis Ibah, in a statement on Friday said this landmark agreement, supervised by the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, paves the way for the Brass Fertilizer and Petrochemical Company Limited (BFPCL) and its partners to achieve financial close for the brass fertiliser and methanol project.

It explained that the Joint Venture partners, which comprising of the NNPC Ltd, Shell Petroleum Development Company (SPDC), TotalEnergies Ltd, and Eni, will supply 270 million standard cubic feet of gas per day (270MMscfd) to BFPCL, the largest single GSPA to any domestic gas offtaker in Nigeria.

This project, according to the statement, is expected to generate over $1.5 billion annually from exports of fertilizers, petrochemicals, and other gas-based products.

Speaking at the signing of the agreement, Mr Ekpo praised President Bola Tinubu’s steadfast support and guidance.

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