FrazEnergy, Galileo Technologies Sign MoU on 5mcf Gas Development, Delivery
The FrazeEnergy Limited, a subsidiary of Oilserv Group has signed a Memorandum of Understanding (MoU) with the Galileo Technologies to facilitate establishment of five million cubic feet (mcf) gas plant in Nigeria.
The MoU aimed at boosting the country’s economy was signed on the sidelines of the 23rd Nigeria Oil and Gas (NOG) Energy Week Conference in Abuja. The 2024 NOG is tagged “Showcasing Opportunities, Driving Investment, Meeting Energy Demand”.
The Galileo of Argentina, with its widely proven technology is partnering with the FrazeEnergy for the establishment of a five mcf natural gas plant in Delta State to boost gas affordability and delivery in the country.
Speaking at the MoU signing, the General Manager, FrazEnergy Ltd., Mr Osi Okonkwo, said the MoU would spur investment in the midstream and downstream sectors, gas sourcing and processing, transportation and gas based industrial operations.
Okonkwo said that the project would be able to capture and convert flare gas into commodities, such as natural gas which would turn into Liquefied Natural Gas (LNG), Liquefied Petroleum Gas (LPG), propene and some condensate.
“We are literally going to take the raw gas, break it into its different components; so we are working with Galileo to convert the gas to LNG and market the product, which is the purpose of the agreement.
“As Oilserv, we have built and developed gas infrastructure for other people in the last three decades, but with FrazeEnergy, we tend to develop our own projects and for our development partners.
“Our area of focus is in the space of gas, gas treatment, processing and transportation, either by physical pipelines or virtual pipelines.
“Also in the downstream, we are developing projects in gas utilisation; we can do captive and embedded power and services. We also dwell on gas based industries, for instance petrochemicals.
“We will dwell on the gas value chain, from source to use. Right now, we are developing the pipelines,’’ he said.
He further said that the company was one of the approved companies with technologies by the Nigerian Upstream Petroleum Commission (NUPRC) for its flare commercialisation programme.
Speaking on the safety of the host communities, he said the technology would provide emission free LNG storage and loading, which could avoid natural gas waste, ensuring safe operations in compliance with environmental regulations.
Mr Gabriel Lorenzi, Commercial VP Africa/Mena/Asia Pacific, Galileo Technologies, said the company was ready to partner with FrazEnergy by bringing its technology to facilitate gas delivery and penetration.
According to Lorenzi, the partnership will deliver gas sustainable solutions to bridge the energy gap through compact and transportable modules. Equities Investors Lose N23bn as NGX Ends in Red
