Grenada Set to Become Major Energy Hub in Historic Partnership

In a groundbreaking development, Nigerian oil and gas company, Oceangate Oil and Gas Engineering, has secured a multi-billion dollar deal with Global Petroleum Group to launch one of the Caribbean’s largest oil and gas ventures. This transformative partnership is poised to establish Grenada as a major energy hub in the region and beyond.

According to Dr. Aisha Achimugu, Group CEO of Oceangate, this historic partnership aims to develop Grenada’s significant hydrocarbon reserves, unlocking substantial economic benefits and energy resources for the island nation. “We are thrilled to enter this partnership with Global Petroleum Group, which will bring significant benefits to Grenada,” Dr. Achimugu said.

The venture marks a major milestone in Oceangate’s commitment to investing in sustainable energy solutions that drive economic growth while respecting environmental standards. Dr. Achimugu emphasized that the project will lay the groundwork for future economic collaborations between Africa and the Caribbean, fostering long-term economic growth and sustainable development.

The ambitious project is expected to have far-reaching benefits for Grenada, including elevated energy production capabilities, job creation, infrastructure development, and technology transfer within the local economy. Set against the backdrop of the Caribbean’s evolving energy landscape, the venture is poised to provide unprecedented economic opportunities, delivering benefits across sectors and positioning Grenada as a key energy supplier in the region.

As the Caribbean continues to evolve its energy landscape, Grenada’s emergence as a major energy hub is likely to have a significant impact on the region’s economic development. With Oceangate and Global Petroleum Group at the helm, this historic partnership is set to unlock new opportunities and drive growth in the region for years to come.