P&ID is a sole purpose company founded in 2006 by Michael Quinn and Brendan Cahill, who have a long track-record of successful public works projects in Nigeria. P&ID and Nigeria entered into a 20-year Agreement – known as the Gas Supply and Processing Agreement (GSPA) – to refine natural gas for Nigeria’s electricity grid. Nigeria’s oilfields release “wet” gas that is routinely burnt off into the atmosphere, or “flared.” P&ID had a plan to refine that gas into “lean” gas that could be used to generate 2000 megawatts of electricity annually. The agreement stipulated that Nigeria would receive 85% of the lean gas at no cost for electrical generation and industrialization. P&ID would receive the remaining 15% of the byproduct – consisting of methane, propane, and butane – to sell on commercial markets.
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Nigeria's Debt to P&ID