NIGUS, a Nigerian integrated energy company, has entered into a $1 billion agreement with Chinese firm, Beijing Zhongmin Xin Junlong New Energy Technology (Zhongmin Energy), to address gas flaring across the West African country.
Through the collaboration, NIGUS will leverage Zhongmin Energy’s technology to capture and convert flared gas into various liquid fuels, including gasoline, jet fuel, petroleum gas, liquefied natural gas, and diesel. The aim is to enhance the production of petroleum products for both domestic consumption and international exports, while advancing resource exploitation and monetization for value addition.
Malik Ado Ibrahim, CEO and Chairman of NIGUS, explained that “The joint venture is about NIGUS, as a renewable energy company, joining forces with the technology that allows us to bring the clean climate economy to Nigeria and create value from what we are wasting at the moment to generate lower pricing energy.”
