Host communities, foreign investors to partner on gas project


Oil-producing communities under the aegis of Host Communities of Nigeria Producing Oil and Gas (HOSTCON), have entered into a strategic partnership with a consortium of foreign investors to utilize the vast quantity of gas flared in the Niger Delta for electricity generation and fertilizer production, Vanguard reports.

This was contained in a presentation to the Senate Committee on Petroleum Industry Management Bill by the National Chairman of HOSTCON, Mr. Mike Emuh, in Abuja. Emuh, who did not divulge the identity of the foreign investors, said the investors are experts in the conversion of gas to energy, while he added that the investors would be responsible for financing the project.

According to him, the foreign investors would be working in conjunction with the Federal Government, International Oil Companies (IOCs), the Nigerian National Petroleum Corporation (NNPC), Energy Commission of Nigeria, Ministry of Environment and the Ministry of Petroleum Resources, who are expected to give the investors the necessary guidance and requirements for gas flare reduction.