The African Export-Import Bank (Afreximbank) has signed a seven-year term loan agreement to fund the construction of a gas processing facility in Nigeria. The agreement with Nigeria’s Alphaden Energy & Oilfield Limited is for the construction of a 20 million standard cubic feet per day plant in Bayelsa State. It will have the capacity to produce 405 million tons per day of Liquefied Natural Gas (LNG) and 294 barrels per day of crude condensates. It is poised to reduce gas flaring and generate value from Nigeria’s natural gas resources. Africa’s natural gas sector set for growth – IEA reportFor Afreximbank, the transaction furthers its commitments to Africa’s energy transition.
