The U.S. Trade and Development Agency has awarded a grant to Nigerian natural gas supply company Green Liquified Natural Gas Limited (GLNG) to support Nigeria’s increased utilization of natural gas for power generation, local industry and additional economic growth.
“This project will support the diversification of Nigeria’s economic development while creating opportunities for U.S. companies to develop world-class infrastructure,” said Thomas R. Hardy, USTDA’s Acting Director. “It will also build upon USTDA’s commitment to working with our partners in Nigeria to develop and expand the country’s natural gas options.”
Specifically, USTDA’s grant will assess the viability of an LNG liquefaction and distribution facility and associated regasification and distribution stations in Southwestern Nigeria. GLNG selected the U.S. company NOVI Energy LLC to conduct the study.
“We are proud to announce our path-breaking LNG project in Nigeria, which will have a significant impact on Nigeria’s goal of pursuing a sustainable, environmentally friendly, alternate fuel-based economy,” said Mr. Anil Ahluwalia, Director of GLNG.
GLNG has been in discussions with Nigerian financial guarantor InfraCredit to support the project. “We are pleased to have established this strategic relationship with USTDA. By providing project preparatory assistance to our client projects like GLNG, USTDA is helping develop bankable infrastructure projects in Nigeria, which will expand the market for much needed good quality projects that can access long term domestic credit with InfraCredit’s local currency guarantees,” said Chinua Azubike, Chief Executive Officer of InfraCredit.
This project supports the U.S. government’s Prosper Africa, Power Africa and Doing Business in Africa Initiatives.
Press Release: USTDA 29th July 2020