The Project

Brass Methanol Project

Brass Fertilizer & Petrochemical Company Limited (“BFPCL”) is a registered company in Nigeria since 2009. BFPCL is the sponsor of the prestigious Brass Methanol Project. The Company is a joint venture between DSV Engineering Limited (DSV) and two Nigerian state-owned enterprises – the Nigerian National Petroleum Corporation (NNPC) and the Nigerian Content Development & Monitoring Board (NCDMB). BFPCL will own and operate the Joint venture.

The project is located on Brass Island in Bayelsa State, Nigeria and is made up of a number of elements that include a gas supply network comprising gas fields, wells and pipelines, a natural gas processing plant, a methanol production and refining plant, product export facilities, and associated utilities and infrastructure. The Gas Processing Plant and the Methanol Plant will be located on a 667.5-hectare site of eastern end of Brass Island close to the St. Nicholas River, and to the south by the Atlantic Ocean.

The Project brings opportunities and positive benefits these include the wider economic benefit to Nigeria and Bayelsa state, but also, importantly, the provision of economic benefits to the local community through employment, skills development, training and community development support.

Key Project Highlights

  • Pioneer Methanol Production Plant in Nigeria with Strong Government Support
  • Geographically Advantaged to be a Global  Methanol Supplier in an  Industry with Strong  Demand Fundamentals
  • Designed to Exceed International Environmental, Social &  Governance Standards  Whilst Securing A Lower  Carbon Future
  • Well Structured Project with Visibility to Debt Funding Working Alongside Reputable Counterparties
  • Attractive Project Cashflows Supported by Long-term Commercial Contracts

Received Strong Government Support via Receipt of Required Approvals, Fiscal Incentives as well as Direct Equity Commitments from Two Reputable Government Entities

Statutory C of O (Land Lease Approval)

  • 99-year lease granted by Bayelsa State Government, Nigeria via accordance of Statutory Certificate of Occupancy (C of O)

FMITI Approval

  • Approvals from the Federal Ministry of Industry, Trade, and Investment (FMITI) to build and operate an integrated petrochemical plant
  • Brass will adhere to the policies and regulations under the approval

Fiscal Incentives

  • The Federal Ministry of Finance (FMF) has issued an import duty and value added tax (VAT) exemption to Brass
  • Exempted from payment of import duty and VAT on machinery, equipment, pipes and spares imported for Project development

OGFZA Approval

  • The Oil and Gas Free Zone Authority (OGFZA) has designated Brass as a free zone entity
  • This will enable the Project benefit from numerous incentives under the OGFZA Act-1996

Stakeholder in Gas Feedstock JV

  • Direct government support via NNPC’s 55% stake in SPDC JV
  • Brass and SPDC JV have finalized a GSPA for up to a total contract quantity of 2.2 tcf of natural gas to be delivered over the life of the Project