The BUA Group’s 700-tonne-per-day Liquefied Natural Gas (LNG) project, which aligns with the Nigerian government’s decade-long gas commitment, is expected to create jobs and foster economic growth in the country.
BUA Group, one of Africa’s largest industrial conglomerates, has signed an agreement to establish the mini LNG project in the country with CIMC ENRIC, a global leader in the energy equipment industry.
The agreement was signed at the BUA headquarters in Lagos, Nigeria, on Monday, December 18, 2023.
Speaking about this historic project, BUA Group Chairman Abdul Samad Rabiu stated that BUA remains committed to using cleaner, energy-efficient sources for its operations across Nigeria in accordance with its short-to-long-term ESG commitments and sustainability initiatives.
He went on to say that, while BUA already uses gas as a major energy source in its over 1,000MW captive power plants used for operations across Nigeria, the mini LNG project, when completed, will improve all-year availability of cleaner energy and support BUA’s growing industrial power demands.
Natural gas demand in Nigeria in 2022 is expected to be around 12.12 billion standard cubic meters (428.01 billion standard cubic feet), according to Statista. This is up from around 10.11 billion standard cubic meters the previous year.
Meanwhile, the Nigeria terminal has a capacity of 21.9Mtpa (million tons per annum) with six trains, which is expected to increase to 29.9Mtpa by 2030.
“We are excited about the prospects of this project and look forward to a fruitful collaboration with CIMC ENRIC,” he added.
This partnership bridges BUA Group’s expansion into the energy sector and reaffirms its commitment to sustainable energy solutions across its business operations.
According to a statement obtained by EnergyPlanets, the agreement was signed by management representatives of BUA and CMIC ENRIC, highlighting the project’s expected impact on the regional energy landscape and aligning with the Nigerian government’s push to diversify its energy commitments.
“BUA Group remains committed to investing in cutting-edge technology and infrastructure that benefits not only its operations but also the communities it serves,’ the statement read.