May 27, 2024

Governor Seyi Makinde Secures $100 Million Gas Infrastructure Deal with Shell in London

 

By Tosing Praise

 

Oyo State Governor, Seyi Makinde, has signed a groundbreaking $100 million gas infrastructure project agreement with Shell Nigeria Gas (SNG) in London. Taking to his official social media account, Makinde announced the milestone agreement.

 

The project includes the construction of a Pressure Reduction and Metering Station (PRMS) and laying of pipelines by SNG on a Build-Own-Operate-Transfer (BOOT) basis. Ownership will be transferred to Oyo State after 20 years.

Expressing his excitement, Makinde wrote, “We were in London to sign the final investment agreement for the Oyo State Government-Shell Nigeria Gas Infrastructure Development and Distribution project. This gas project worth about $100 million involves the construction of a Pressure Reduction and Metering Station (PRMS) and laying of pipelines by SNG on a Build-Own-Operate-Transfer (BOOT) basis. Ownership will be transferred to Oyo State after 20 years.”

 

“With this agreement in place, we are looking forward to the first flow of gas to industrial, manufacturing, and commercial entities, as well as our independent power project in Oyo State in 18 months.”

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