Four persons have been arraigned by the Economic Financial Crimes Commission (EFCC) for their alleged involvement in the Process and Industrial Development Limited (P&ID) deal.
The suspects were arraigned on Thursday at the Federal High Court in Abuja, the Federal Capital Territory.
However, two people were taken to the dock at the proceedings presided over by Justice Inyang Ekwo.
According to the prosecutor, there were 11 charges brought against the defendants – P&ID and another.
The defendants did not object to the charges to be read to them.
The representative of P&ID pleaded guilty to intent to defraud by obtaining property from the Cross River State government.
They also pleaded guilty to a second count of obtaining land from the Cross River State government with the intent to defraud.
The EFCC commenced an investigation of the contract following a British court ruling that Nigeria owed the Irish firm about $9 billion for violating terms of the contract.
The contract for gas supply and processing (GSPA) was signed by the administration of late President Umaru Yar’Adua and P&ID.
The company was to build gas processing facilities around Calabar, Cross River State, and the government was to supply wet gas up to 400 million standard cubic feet per day. The agreement defined wet gas as “associated gas removed, during oil production, having a propane content of not less than 3.5 mol per cent and a butane content of not less than 1.8 mol content, compressed and delivered via pipeline to the site.”
In turn, the company “shall operate and maintain the GPFs (gas processing facilities) on a professional basis to ensure a regular supply of Lean Gas (approximately 340 MMSCuFD) for power generation.”
Lean gas, defined as “pipeline quality gas having a composition of not less than 95 mol per cent of methane and ethane,” was what the government was to take after supplying wet gas for processing by the company.