After years of delays, the Gas Sales and Purchase Agreement (GSPA) for Nigeria’s Brass Fertiliser Petrochemical Company Limited (BFPCL) would be concluded this month, it has been revealed.
The agreement is with BFPCL’s gas supplier, the NNPC/SPDC Joint Venture (JV). Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, disclosed this in a statement by his media aide, Louis Iba.
Similarly, BFPCL and China Road and Bridge Corporation (CRBC) have executed Project Agreements for the $3.3billion Brass Industrial Park, Methanol Plant and Gas Gathering Pipelines with Associated Facilities, as well as signing a Shipping Vessels Acquisition and Joint Venture Agreement for 16 new 50,000MT methanol powered shipping vessels with COSCO Shipping Lines Co Ltd.
The minister’s spokesman said the Framework Agreement with COSCO, one of the largest shipping companies in the world, will see the construction of 16 vessels, valued at about $900million. The vessels would be dedicated for the evacuation and transportation of methanol and other products from the Brass Methanol Plant to various global destinations.
