Wed Sep 18 04:23:47 UTC 2024: ## Nigeria and the US Partner on $550 Million Gas Project

**ABUJA, NIGERIA** – The Nigerian National Petroleum Company Limited (NNPC Ltd) and TotalEnergies have launched a $550 million upstream gas project to develop the Ubeta field, the presidency announced on Tuesday. The project, which was signed in June, aims to deliver 350 million standard cubic feet of gas per day when operational.

The development was announced during the inaugural US-Nigeria Strategic Energy Dialogue, hosted by the US State Department in Washington D.C. Olu Verheijen, Special Adviser to the President on Energy, highlighted the project as a testament to Nigeria’s commitment to improving energy security, attracting investments, and deepening collaborations with key partners, including the US government.

Verheijen also outlined the major energy reforms introduced by President Bola Ahmed Tinubu since June 2023, focusing on improving the viability of the gas-to-power value chain in Nigeria. These reforms include initiatives to improve cash flows in electricity distribution, reduce carbon emissions from gas production, and provide fiscal incentives for investment.

The US Assistant Secretary of the State Department’s Bureau of Energy Resources, Geoffrey Pyatt, emphasized the importance of the dialogue in strengthening energy collaboration between the two countries. He stated, “Together, we’re advancing shared energy security, decarbonization, and economic growth goals.”

The Nigerian delegation, led by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, included representatives from the Ministry of Power, the Nigerian Upstream Petroleum Regulatory Commission, and the Nigerian Content Development and Monitoring Board.

The U.S. delegation included representatives from the Bureau of African Affairs, USAID, the U.S. Department of Energy, the U.S. Trade and Development Agency, and the Export-Import Bank.

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