Rungas Petrochemicals, a subsidiary of pan-African gas company, Rungas, and Egyptian petrochemicals giant, Sidi Kerir Petrochemicals Co. (SIDPEC), on Monday, signed a Memorandum of Understanding (MoU) for the development of a new petrochemicals plant in Nigeria.

The MoU was signed on Day 1 of the Egypt Petroleum Show (EGYPS) currently being held in Cairo and inaugurated on Monday by Egyptian President, Abdel Fattah al-Sissi. Several Nigerian delegations were in attendance, including Timipre Sylva,  the Minister of State for Petroleum Resources, and Ambassador Nura Abba Rimi, the Nigerian Ambassador to Egypt.

Lauding the project, Tarek El-Molla, Minister of Petroleum & Mineral Resources of Egypt said: “this agreement will foster greater cooperation between two great African countries, and will lead to wider business opportunities. We fully endorse this agreement and look forward to its progress.”

The agreement lays the basis for both companies to work together in the development of a petrochemicals facility in Akwa Ibom State, Nigeria. Rungas and SIDPEC will now proceed with the project’s feasibility studies, before starting construction work.

“The agreement signed today paves the way for a new and truly African venture. The project will be monetizing Nigerian gas and mobilizing Egyptian expertise to expand our value-chain in Nigeria and create thousands of jobs in the process,” said Lanre Runsewe, Group CEO at Rungas.

By working together, Rungas and SIDPEC seek to support Nigeria’s Decade of Gas and monetise local gas reserves to produce polypropylene, polyethylene, propane and LPG.

Polyethylene would in turn be used for the local fabrication of LPG cylinders. Rungas Industries is notably building three different LPG composite cylinder manufacturing units at Polaku (Bayelsa State), Alaro City (Lagos State) and Kano in Nigeria. The three units will have a combined manufacturing capacity of up to 3 million cylinders a year and support a total of 200 jobs each. The first unit at Polaku will be commissioned in the middle of this year.

Over the past 15 years, Rungas has established itself as a solid player in the LPG space in Nigeria and is currently expanding its operations across the continent. In Nigeria itself, it is in the process of building a vertically integrated gas business from the production to the distribution of clean cooking gas.

Rungas Petrochemicals, a subsidiary of pan-African gas company, Rungas, and Egyptian petrochemicals giant, Sidi Kerir Petrochemicals Co. (SIDPEC), on Monday, signed a Memorandum of Understanding (MoU) for the development of a new petrochemicals plant in Nigeria.

The MoU was signed on Day 1 of the Egypt Petroleum Show (EGYPS) currently being held in Cairo and inaugurated on Monday by Egyptian President, Abdel Fattah al-Sissi. Several Nigerian delegations were in attendance, including Timipre Sylva,  the Minister of State for Petroleum Resources, and Ambassador Nura Abba Rimi, the Nigerian Ambassador to Egypt.

Lauding the project, Tarek El-Molla, Minister of Petroleum & Mineral Resources of Egypt said: “this agreement will foster greater cooperation between two great African countries, and will lead to wider business opportunities. We fully endorse this agreement and look forward to its progress.”

The agreement lays the basis for both companies to work together in the development of a petrochemicals facility in Akwa Ibom State, Nigeria. Rungas and SIDPEC will now proceed with the project’s feasibility studies, before starting construction work.

“The agreement signed today paves the way for a new and truly African venture. The project will be monetizing Nigerian gas and mobilizing Egyptian expertise to expand our value-chain in Nigeria and create thousands of jobs in the process,” said Lanre Runsewe, Group CEO at Rungas.

By working together, Rungas and SIDPEC seek to support Nigeria’s Decade of Gas and monetise local gas reserves to produce polypropylene, polyethylene, propane and LPG.

Polyethylene would in turn be used for the local fabrication of LPG cylinders. Rungas Industries is notably building three different LPG composite cylinder manufacturing units at Polaku (Bayelsa State), Alaro City (Lagos State) and Kano in Nigeria. The three units will have a combined manufacturing capacity of up to 3 million cylinders a year and support a total of 200 jobs each. The first unit at Polaku will be commissioned in the middle of this year.

Over the past 15 years, Rungas has established itself as a solid player in the LPG space in Nigeria and is currently expanding its operations across the continent. In Nigeria itself, it is in the process of building a vertically integrated gas business from the production to the distribution of clean cooking gas.

Rungas Petrochemicals, a subsidiary of pan-African gas company, Rungas, and Egyptian petrochemicals giant, Sidi Kerir Petrochemicals Co. (SIDPEC), on Monday, signed a Memorandum of Understanding (MoU) for the development of a new petrochemicals plant in Nigeria.

The MoU was signed on Day 1 of the Egypt Petroleum Show (EGYPS) currently being held in Cairo and inaugurated on Monday by Egyptian President, Abdel Fattah al-Sissi. Several Nigerian delegations were in attendance, including Timipre Sylva,  the Minister of State for Petroleum Resources, and Ambassador Nura Abba Rimi, the Nigerian Ambassador to Egypt.

Lauding the project, Tarek El-Molla, Minister of Petroleum & Mineral Resources of Egypt said: “this agreement will foster greater cooperation between two great African countries, and will lead to wider business opportunities. We fully endorse this agreement and look forward to its progress.”

The agreement lays the basis for both companies to work together in the development of a petrochemicals facility in Akwa Ibom State, Nigeria. Rungas and SIDPEC will now proceed with the project’s feasibility studies, before starting construction work.

“The agreement signed today paves the way for a new and truly African venture. The project will be monetizing Nigerian gas and mobilizing Egyptian expertise to expand our value-chain in Nigeria and create thousands of jobs in the process,” said Lanre Runsewe, Group CEO at Rungas.

By working together, Rungas and SIDPEC seek to support Nigeria’s Decade of Gas and monetise local gas reserves to produce polypropylene, polyethylene, propane and LPG.

Polyethylene would in turn be used for the local fabrication of LPG cylinders. Rungas Industries is notably building three different LPG composite cylinder manufacturing units at Polaku (Bayelsa State), Alaro City (Lagos State) and Kano in Nigeria. The three units will have a combined manufacturing capacity of up to 3 million cylinders a year and support a total of 200 jobs each. The first unit at Polaku will be commissioned in the middle of this year.

Over the past 15 years, Rungas has established itself as a solid player in the LPG space in Nigeria and is currently expanding its operations across the continent. In Nigeria itself, it is in the process of building a vertically integrated gas business from the production to the distribution of clean cooking gas.

Rungas Petrochemicals, a subsidiary of pan-African gas company, Rungas, and Egyptian petrochemicals giant, Sidi Kerir Petrochemicals Co. (SIDPEC), on Monday, signed a Memorandum of Understanding (MoU) for the development of a new petrochemicals plant in Nigeria.

The MoU was signed on Day 1 of the Egypt Petroleum Show (EGYPS) currently being held in Cairo and inaugurated on Monday by Egyptian President, Abdel Fattah al-Sissi. Several Nigerian delegations were in attendance, including Timipre Sylva,  the Minister of State for Petroleum Resources, and Ambassador Nura Abba Rimi, the Nigerian Ambassador to Egypt.

Lauding the project, Tarek El-Molla, Minister of Petroleum & Mineral Resources of Egypt said: “this agreement will foster greater cooperation between two great African countries, and will lead to wider business opportunities. We fully endorse this agreement and look forward to its progress.”

The agreement lays the basis for both companies to work together in the development of a petrochemicals facility in Akwa Ibom State, Nigeria. Rungas and SIDPEC will now proceed with the project’s feasibility studies, before starting construction work.

“The agreement signed today paves the way for a new and truly African venture. The project will be monetizing Nigerian gas and mobilizing Egyptian expertise to expand our value-chain in Nigeria and create thousands of jobs in the process,” said Lanre Runsewe, Group CEO at Rungas.

By working together, Rungas and SIDPEC seek to support Nigeria’s Decade of Gas and monetise local gas reserves to produce polypropylene, polyethylene, propane and LPG.

Polyethylene would in turn be used for the local fabrication of LPG cylinders. Rungas Industries is notably building three different LPG composite cylinder manufacturing units at Polaku (Bayelsa State), Alaro City (Lagos State) and Kano in Nigeria. The three units will have a combined manufacturing capacity of up to 3 million cylinders a year and support a total of 200 jobs each. The first unit at Polaku will be commissioned in the middle of this year.

Over the past 15 years, Rungas has established itself as a solid player in the LPG space in Nigeria and is currently expanding its operations across the continent. In Nigeria itself, it is in the process of building a vertically integrated gas business from the production to the distribution of clean cooking gas.

Rungas Petrochemicals, a subsidiary of pan-African gas company, Rungas, and Egyptian petrochemicals giant, Sidi Kerir Petrochemicals Co. (SIDPEC), on Monday, signed a Memorandum of Understanding (MoU) for the development of a new petrochemicals plant in Nigeria.

The MoU was signed on Day 1 of the Egypt Petroleum Show (EGYPS) currently being held in Cairo and inaugurated on Monday by Egyptian President, Abdel Fattah al-Sissi. Several Nigerian delegations were in attendance, including Timipre Sylva,  the Minister of State for Petroleum Resources, and Ambassador Nura Abba Rimi, the Nigerian Ambassador to Egypt.

Lauding the project, Tarek El-Molla, Minister of Petroleum & Mineral Resources of Egypt said: “this agreement will foster greater cooperation between two great African countries, and will lead to wider business opportunities. We fully endorse this agreement and look forward to its progress.”

The agreement lays the basis for both companies to work together in the development of a petrochemicals facility in Akwa Ibom State, Nigeria. Rungas and SIDPEC will now proceed with the project’s feasibility studies, before starting construction work.

“The agreement signed today paves the way for a new and truly African venture. The project will be monetizing Nigerian gas and mobilizing Egyptian expertise to expand our value-chain in Nigeria and create thousands of jobs in the process,” said Lanre Runsewe, Group CEO at Rungas.

By working together, Rungas and SIDPEC seek to support Nigeria’s Decade of Gas and monetise local gas reserves to produce polypropylene, polyethylene, propane and LPG.

Polyethylene would in turn be used for the local fabrication of LPG cylinders. Rungas Industries is notably building three different LPG composite cylinder manufacturing units at Polaku (Bayelsa State), Alaro City (Lagos State) and Kano in Nigeria. The three units will have a combined manufacturing capacity of up to 3 million cylinders a year and support a total of 200 jobs each. The first unit at Polaku will be commissioned in the middle of this year.

Over the past 15 years, Rungas has established itself as a solid player in the LPG space in Nigeria and is currently expanding its operations across the continent. In Nigeria itself, it is in the process of building a vertically integrated gas business from the production to the distribution of clean cooking gas.