China, through its global conglomerates, China Gas and Peiyang Chemical Engineering Service Corporation Pte. Ltd. (PCCS), has disclosed plans to broaden its investment presence in the Nigerian oil and gas industry during the recent Nigerian ministerial investment visit to China.
The ministerial visit led by the Nigerian Minister of State for Petroleum Gas, Honorable Dr. Ekperikpe Ekpo, met with top officials of China Gas and PCCS to explore strategic collaboration and investment opportunities in Nigeria’s gas sector, in furtherance of President Bola Ahmed Tinubu’s Decade of Gas agenda.
According to Dr. Ekpo, visiting the two globally renowned in China was borne out of their possession of advanced technologies and ingenuity in oil and gas viz a viz their financial prowess to undertake major gas-oriented project anywhere in the world seamlessly similar to Nigerian AKK project, noting that these projects are strategic national gas arteries that will connect major industrial and commercial centres across the country.
“I made it clear that Nigeria is prioritising partnerships with credible global energy firms that possess both the technical expertise and financial capacity to unlock our vast gas resources and drive sustainable economic growth,” Ekpo Said.
“I also briefed our partners on the strong progress being recorded in our critical gas infrastructure, noting that the Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline is now over 90 per cent complete, while the Obiafu–Obrikom–Oben (OB3) pipeline has reached 96 per cent completion,” He added.
On upstream investment development in Nigeria, the Minister highlighted laudable and attractive ease-of-doing-business opportunities enabled by the current administration via its various presidential directives and initiatives in the upstream sector. Notably, transparency has become an indelible watchword in the country’s bid licensing process, as the Minister wooed Chinese firms to seize these great opportunities.
“Nigeria has already secured over US$8 billion in gas investment commitments, including Final Investment Decisions on the HI, Ubeta and Iseni field development projects. I also informed them that our 2025 Licensing Round will offer 50 new acreages, with a target of attracting about US$10 billion in fresh investments.
“The Gas Flare Commercialisation Programme permits have been issued to 28 companies to capture about 250 million standard cubic feet of gas per day, representing over US$2 billion in associated investments that will turn waste into wealth while reducing emissions,” He stated.
He further urged China Gas and PCCS to partner with Nigeria as we advance a cleaner and more sustainable energy future, reaffirming President Tinubu’s commitment that Nigeria is open for business and ready to welcome investors who are serious about innovation, growth, and long-term prosperity in our gas sector.
