NIGUS Signs $1bn Agreement with Chinese Firm to Curb Gas Flaring

  • NIGUS said the collaboration focuses on integrating its cutting-edge technology to convert flared gas for commercial use.
  • The innovative technology would generate Gas-to-Liquid products to enhance the energy mix.

A Nigerian energy company, NIGUS International, has signed a $1 billion agreement with a Chinese firm, Beijing Zhogmin Xinjunlong New Energy Technology Company Ltd, for finance and advanced solutions to gas flaring in Nigeria. According to the News Agency of Nigeria (NAN), they signed the agreement last Friday in Abuja under the national directive from President Bola Tinubu.

The innovative technology would generate Gas-to-Liquid (GTL) products such as synthetic diesel to enhance the energy mix. This also includes Liquefied Natural Gas (LNG) for export and Liquefied Petroleum Gas (cooking gas), among other advancements. The Chief Executive Officer and Chairman of NIGUS, HRH Malik Ado Ibrahim, said the collaboration with the Chinese company focused on integrating its cutting-edge technology to convert flared gas for commercial use.

He said, “The joint venture is about NIGUS, as a renewable energy company, joining forces with the technology that allows us to bring a clean climate economy to Nigeria and create value from what we are currently wasting to generate pricing energy. We seem not to be contributing to the carbon footprint because we flare a lot of our gas, and 90% of what we produce in Nigeria is being flared, not utilised.

“We are bringing to play a very modern, state-of-the-art technology by joining forces with China to create wealth and carbon neutrality and then generate lower-price energy. The project is to demonstrate the President’s wish to utilise flared gas. This technology will put his wishes into action. The GTL will allow us to turn the gas into a liquid to create LNG. The paradigm shift is that we will be able to embed the technology where it is needed rather than add infrastructural cost.”

The Chief Executive Officer of Beijing Zhogmin Xinjunlong New Energy Technology Company Ltd., Yung Ruming, said his company was ready for the partnership. He assured the firm would mobilise its technical team and equipment to bring the project to fruition, adding that it would significantly benefit Nigerians.

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