ADVISORY, Legal Consultants is pleased to announce that our client, Brass Fertilizer and Petrochemical Company Limited (BFPCL), has secured a Final Investment Decision from DSV Engineering Limited (DSV), Nigeria National Petroleum Corporation (NNPC), and the Nigeria Content Development and Monitoring Board (NCDMB) (sponsors), for the construction of the first ever methanol plant in Nigeria.

The $3.6 billion project, which comprises a world-scale 2 x 5,000 MTPD methanol production facility and a 500 MMscf/d gas processing plant, will be located in a designated oil and gas free trade zone, in Odioama, Brass Island, Bayelsa State and will unlock stranded gas reserves to meet methanol demand in Nigeria’s domestic and export markets whilst creating significant employment opportunities and fostering the development of the host community.

As Project Counsel, ADVISORY, Legal Consultants has assisted the developers to negotiate and finalise key project agreements including equity raise documentation, the Gas Sales and Purchase Agreement (GSPA) between BFPCL and the NNPC/Shell Petroleum and Development Company Joint Venture (SPDC JV), as well as the Project Management Consultancy contract with TATA Consulting Engineers Limited (TCE), India.

Managing Partner, ‘Gbite Adeniji commented: “It is a matter of immense privilege and pride for us at ADVISORY, Legal Consultants, to be able to associate ourselves with this project right from its foundation. We thank the promoters of the project for their confidence in our firm and the opportunity to be part of this ground-breaking project.”

We look forward to providing continued support to BFPCL as it attains other project milestones, such as the attainment of financial close and the eventual delivery of a world-class methanol and gas processing project.

Below are pictures from the FID Ceremony, which held on January 29, 2019, at Transcorp Hilton, Abuja.