Nigeria has taken a significant step to monetize its vast gas reserves by signing a $3.5 billion agreement with joint venture partners to supply gas to the Brass fertilizer and petrochemical plant. The partners, including Shell, TotalEnergies, and Eni, will deliver around 270 million standard cubic feet of gas per day to the facility in Bayelsa State. According to Nicholas Agbo Ella, permanent secretary of the Ministry of Petroleum, the project could generate at least $1.5 billion annually and reduce fertilizer imports by 30%, saving $200 million in foreign currency per year.
