Bayelsa State Partners With Fulcrum LNG to End Gas Flaring
The Bayelsa State Government and Fulcrum LNG signed an agreement to build a gas processing facility to power industrial clusters and reduce environmental pollution.
The Government of Bayelsa State and US-based Fulcrum LNG Incorporated signed a partnership agreement to develop a multi-million-dollar gas gathering and processing facility in Nigeria. The deal was reached during the inaugural US-Nigeria Governors Government-to-Business Forum on Energy, Mining and Infrastructure in Sugar Land, Texas.
The project will be executed in two phases. The first phase focuses on capturing and commercializing flared gas to power Bayelsa's Independent Power Plant and industrial clusters. The second phase will expand into a broader gas monetization program. Governor Douye Diri noted that Bayelsa holds 15-20 percent of Nigeria's proven gas reserves and described the agreement as a "win-win" for environmental protection and industrialization.
Fulcrum LNG intends to fund the project entirely, though the state government may acquire an equity stake if it provides capital. CEO Jesus Bronchalo stated the company will first conduct field studies to determine the scale of flaring and necessary infrastructure. Bronchalo suggested the final investment could exceed the scale of a similar $3 billion project in Guyana and aims to move from a final investment decision to commissioning within 12 months.
