Beijing Zhogmin Xinjunlong New Energy Technology Company Ltd. and NIGUS International have sealed a transformative $1 billion agreement in a noteworthy stride towards combatting gas flaring.
The historic pact comes after President Bola Tinubu’s directive to move towards ushering Nigeria into sustainable energy.
HRH Malik Ado Ibrahim, CEO and chairman of NIGUS, underscored the significance of the collaboration.
He said their collective mission involves harnessing innovative technology to convert flared gas into commercially viable assets, including Gas-to-Liquid (GTL), Liquefied Natural Gas (LNG) for export, and Liquefied Petroleum Gas (cooking gas), among other solutions.
According to him, GTL technology is poised to revolutionize Nigeria’s energy landscape, transforming natural gas into high-quality liquid fuels like gasoline, jet fuel, and diesel.
He emphasized that the partnership aims to repurpose the colossal amounts of wasted gas—accounting for 90% of Nigeria’s production—into valuable energy resources, aligning with global climate and carbon neutrality goals.
He noted that the initiative mirrors President Tinubu’s vision to harness flared gas effectively.
”By converting gas into liquid forms and producing LNG, the technology provides cost-effective solutions without extensive infrastructure, contributing to carbon neutrality and offering affordable energy alternatives,” he said.
Ado Ibrahim also highlighted this venture’s potential for job creation and economic growth.
He added that the prospect of accessing global green funds due to Nigeria’s improved carbon footprint underpins this initiative’s economic and environmental significance.
Yung Ruming, CEO of Beijing Zhogmin Xinjunlong New Energy Technology Company Ltd., affirmed the company’s readiness to deploy technical expertise and equipment to realize this project.
He thanked the Nigerian government for entrusting the company with this significant endeavour, emphasizing the mutual benefits expected from the enduring relationship between Nigeria and China.
