Gas Flare – Beijing Zhongmin Xin Junlong, a Chinese new energy technology company, has entered into a $1 billion agreement with Nigerian energy company Nigus International to address the issue of gas flaring in Nigeria and convert it into energy.
Prince Malik Ado-Ibrahim, the Chief Executive of Nigus International, highlighted that about 90% of the gas produced during crude oil extraction in Nigeria is currently flared, indicating inefficient utilization. The partnership aims to leverage technology the Chinese company provides to convert the flared gas into liquid synthetic diesel and utilize it for energy production.
Ado-Ibrahim emphasized that the technology allows for the conversion of flared gas without the need for extensive infrastructure, reducing costs and minimizing the risk of sabotage to pipelines. He mentioned that the project would contribute to job creation, wealth generation, and position Nigeria at the forefront of such initiatives.
The technology is expected to be deployed where needed, providing a significant paradigm shift in addressing gas flaring challenges. The project is anticipated to commence in the coming months, with the site to be announced soon.
Mr. Ying Ruming, representing Beijing Zhongmin Xin Junlong, expressed optimism about the project and mentioned that the technology would be brought in from China within the next month to initiate the work.
