Nigeria says deal reached with Shell to supply $3.8B methanol project

seekingalpha04-18

Nigeria has reached a deal with Shell (NYSE:SHEL) to supply gas to its proposed $3.8B Brass methanol complex, resolving a major hurdle to a final investment decision on the project, Reuters reported ...

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The country's minister for gas said the gas supply and purchase agreement, crucial for the project, will be executed next month following successful talks with Shell's (SHEL) Nigeria CEO and others. The agreement would secure a long-term gas supply from a Shell-operated (SHEL) joint venture for the methanol production facility that will be built on Brass Island in the oil-rich coastal Bayelsa state. The Brass project includes a gas processing plant, a methanol production and refining site, and product export facilities. Nigeria holds Africa's largest natural gas reserves, totaling more than 200T cf.  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