Grenada is set to become a key energy hub in the Caribbean following a historic multi-billion dollar agreement between Nigerian oil and gas firm, Oceangate Oil and Gas Engineering, and Global Petroleum Group.
The transformative partnership aims to harness Grenada’s significant hydrocarbon reserves, establishing the island nation as a major energy supplier in the region.
In a statement on Saturday, the Group CEO of Oceangate, Dr. Aisha Achimugu, highlighted the project’s significance, emphasising its potential to bring substantial economic benefits and energy resources to Grenada.
She noted that the venture aligns with Oceangate’s commitment to investing in sustainable energy solutions that drive economic prosperity while maintaining environmental standards.
According to Achimugu, the ambitious project is set to not only elevate Grenada’s energy production capabilities but also boost job creation, infrastructure development, and technology transfer within the local economy.
“With a vision to fuel long-term economic growth and sustainable development, this project promises to foster substantial growth within Grenada and beyond,” she stated.
As the Caribbean’s energy landscape evolves, the partnership is expected to unlock unprecedented economic opportunities, positioning Grenada as a vital energy supplier in the region.