MoMP, Greencom sign agreement to build gas plant
Addis Ababa, April 28, 2020 (FBC) – The Ministry of Mines and Petroleum (MoMP) have signed a joint study agreement with GreenCom Technologies to build gas processing plant in Ethiopia.
The agreement is aimed at building a gas processing plant that also produces Petrochemicals and other industry inputs out of natural gasses.
The plant to be built based on the study agreement will also produces industrial inputs used for producing Petroleum gas, aviation fuel, and beauty products.
The gas processing project which is to be implemented jointly by the US- based GreenCom Technologies and Hyundai Engineering and Construction needs more than $ 3.6 billion to be implemented upon the completion of the study.
Out of the total budget needed to run the project, $70 million will be covered by GreenCom technologies, it was learned.
The statement from ministry of Mines and Petroleum indicates that the agreement signed includes development of 8 trillion cubic feet natural gas from six potential areas including Calub and Hilala gas reserves sites in Ogaden, Somali regional state.