The African Energy Week is pleased to announce the participation of the Nigerian Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo. This participation highlights Nigeria's significant advancements in the gas sector.
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| Ekperikpe Ekpo, Nigeria’s Minister of State for Petroleum Resources (Gas) |
The Honorable Ekperikpe Ekpo, Nigeria's esteemed Minister of State for Petroleum Resources (Gas), will grace the African Energy Week (AEW): Invest in African Energy 2024 conference as a distinguished keynote speaker. This prestigious event will convene in Cape Town from November 4 to 8. Minister Ekpo's esteemed presence follows the momentous launch of three groundbreaking gas projects in Nigeria, strategically designed to augment the nation's gas supply by an impressive 25%.
Recently, Nigerian President Bola Tinubu inaugurated the expanded AHL Gas Processing Plant, ANOH Gas Processing Plant, and 23.3-kilometer ANOG to Obiafu-Obrikom-Oben Custody Transfer Metering Station Gas Pipeline. Collectively, these projects will generate approximately 500 million standard cubic feet of gas daily for the domestic market. Their successful implementation will not only drive gas-fueled growth within Nigeria but also position the country as an attractive investment destination for global investors, while simultaneously establishing essential gas infrastructure.
AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
To unlock Nigeria's substantial gas potential, the nation aspires to establish a more robust presence in the global marketplace and emerge as a prominent destination for energy investment. Recently, TotalEnergies, a French multinational corporation, and the Nigerian National Petroleum Corporation (NNPC) jointly announced a $550 million Final Investment Decision (FID) for the development of the Ubeta gas field. This project, targeted for completion in 2027, aims to produce 350 million cubic feet of gas and 10,000 barrels of associated liquids per day.
It will involve the utilization of six wells and the construction of an 11-kilometer pipeline to transport gas to processing facilities in Obite. Furthermore, the African Export-Import Bank and First Bank of Nigeria have entered into a $200 million loan facility agreement to provide financial support to clients across various sectors, including oil and gas, energy, manufacturing, and telecommunications.
Furthermore, the NNPC has recently entered into a project development agreement with Golar LNG, a marine infrastructure company, to implement a floating LNG vessel in the offshore Niger Delta region of Nigeria. This agreement details the strategies to commercialize around 400-500 million standard cubic feet of gas daily and manufacture LNG, liquefied petroleum gas, and condensate. The Final Investment Decision (FID) for this project is projected to be made by the fourth quarter of 2024, and the commencement of gas production is foreseen for 2027.
Minister Ekpo's participation at AEW: Invest in African Energy will highlight Nigeria's conducive business environment, favorable investment policies, and substantial returns in the oil and gas sector. During the event, Minister Ekpo will emphasize the Ministry's vision for the natural gas sector, which centers on expanding domestic gas utilization, enhancing gas-fired generation capabilities, and establishing diversified downstream industries. Recently appointed as the Co-Chairman of the Governing Council of the Nigerian Content Development and Monitoring Board, Minister Ekpo will also outline the significance of gas exploration and development in generating employment opportunities, upskilling the local workforce, and facilitating knowledge and technology transfer.
“The Chamber applauds Minister Ekpo’s unmitigated support to bringing energy to millions of Africans, while paving the way for strong socioeconomic development in Nigeria and West Africa. We are encouraged by the successes we have seen so far – including multi-million-dollar FIDs on major gas projects – and look forward to Nigeria’s role in championing gas development at this year’s AEW conference,” states African Energy Chamber Executive Chairman, NJ Ayuk.