Iran to supply $2.5bn worth of CNG services to Nigeria: Industry source
Companies from Iran will supply some $2.5 billion worth of services related to natural gas for vehicles (NGV) business to Nigeria as part of recent agreement between the two countries, an industry source has revealed.
Mahmud Ghassemi, a member of Iran’s syndicate of compressed natural gas (CNG) businesses, said on Wednesday that a delegation from Iran will travel to Nigeria next week to sign a contract to supply of CNG service to the African country.
Ghassemi said works in Nigeria by Iranian companies will include the conversion of 1 million vehicles to CNG as well as the construction of 1,000 CNG stations in the African country.
He said Iran and Nigeria had agreed to a duration of seven years for the project that will be concentrated in three Nigerian cities.
The businessman said fueling stations planned for construction in Nigeria by Iranian companies will be of the LCNG type which feed on liquefied natural gas. He said some 70 plants will be set up in Nigeria for vehicle conversion services.
The remarks come days after Iranian and Nigerian oil ministers signed a memorandum of understanding to expand petroleum sector cooperation between the two leading oil producers in the world.
Iranian Oil Minister Javad Owji said after signing the deal that the provision of CNG services by Iran to Nigeria will be a main component of the agreement.
Owji said Nigeria will in return supply technical and engineering services to Iran’s natural gas liquefaction sector.
Nigeria launched an ambitious plan to convert its car fleet to gas last year as the country aims to cut reliance on imported fuel and use its excessive supplies of liquified natural gas.
Iran reports slight increase in mining sector exports in April-October
Immunity of Iran’s shipping industry to illegal sanctions
Iran parliament committee approves to lower car import tariffs
VIDEO | COP29: another climate failure?
ICC issues arrest warrants for Netanyahu, Gallant for war crimes
Israeli strikes kill 88 Palestinians in northern Gaza
American voters plainly rejected complicity in Gaza genocide: Iran FM spox
ICC should issue more arrest warrants for Israeli authorities over Gaza genocide: UN expert
Israel using AI weapons co-produced by India in Gaza genocide: Report
Israel issues new evacuation orders, shortly launches strikes on southern Lebanon
VIDEO | Press TV's news headlines
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
