The Nigerian Presidency has initiated a $550 million upstream gas project in collaboration with TotalEnergies. The project at the Ubeta field will deliver 350 million standard cubic feet of gas per day once operational. The announcement was made by the Special Adviser to the President on Energy, Olu Verheijen, at the US-Nigeria Strategic Energy Dialogue in Washington, DC.
The reforms introduced by President Bola Tinubu since June 2023 focus on enhancing energy security, attracting investments, and consolidating partnerships, particularly with the US government. These reforms aim to enhance the gas-to-power value chain in Nigeria, improve cash flows in electricity distribution, and reduce carbon emissions from gas production.
The dialogue highlighted the importance of US-Nigeria collaboration in addressing energy access issues for millions of Nigerians. The creation of the Clean Energy Alliance of Nigeria, a US initiative, aims to support clean energy investments in Nigeria.
The event was attended by key Nigerian and US officials, marking a significant milestone in energy cooperation between the two countries.
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