Lagos,Nigeria
Monday, June 17th, 2024

Search
Search
Close this search box.

NNPCL, stakeholders call for major investments to grow Nigeria’s gas resources

No comment
Sunday, April 9th, 2023
No comment

The Nigerian National Petroleum Company Limited, NNPCL, and other stakeholders in the petroleum industry have called for major investments to develop and commercialise the vast natural gas reserves available in the country.

Seen as Nigeria’s energy transition fuel, the country’s over 206 trillion cubic feet of gas reserves is set to play a crucial role as the economic enabler for the West African sub-region.

Speaking at the Oloibiri Lecture Series and Energy Forum, OLEF, organised by the Society of Petroleum Engineers, SPE, Group CEO of NNPC Limited, Mr. Mele Kyari, said growing the gas industry had become a priority for the country.

The OLEF had the theme: Effective Gas Resources Utilization: A lever for enhancing energy security and achieving net-zero emission goals in Nigeria. Kyari stated that the company plans to deliver gas to every big city across the country to support factories and businesses.

He pointed at the Abuja-Kaduna-Kano gas pipeline project as a game changer for the industry, saying it would be the foundation for the Nigeria-Morocco gas pipeline project.

“NNPC is playing a leading role in the realization of the Federal Government’s National Gas Expansion Programme, which seeks to deepen natural gas utilization as an alternative transportation fuel, and an important feedstock for the development of gas-based industries.

“We are working assidu-ously to ensure timely delivery of major domestic gas pipeline infrastructure projects including the Abuja-Kaduna-Kano gas pipeline corridor and associated power plants.

“NNPC is also making progress on the planned Nigeria-Morocco and the Trans-Sahara Gas Pipelines that will connect West African countries to deliver natural gas to the international markets”, he stated.

While urging oil companies and other stakeholders to invest in the gas sector, he stressed that NNPC was afraid of going it all alone, adding that “there is a clear line of sight in securing funding for the Nigeria-Morocco gas pipeline project”.

In his state of the industry address, the Permanent Secretary, Ministry of Petroleum Resources, Amb. Gabriel Aduda noted that despite the push back from the international community, fossil fuel would continue to play a dominant role in the energy sector for the foreseeable future.

Aduda explained the enactment of the Petroleum Industry Act (PIA) 2021 was a major achievement in the industry, add the PIA has led to the creation of regulatory frameworks with clear-cut mandates for the growth and development of the oil and gas sector.

“If properly implemented, the PIA 2021 would represent the gold standard of natural resource management, with clear and separate roles for the subsectors of the industry; the emergence of a commercially-oriented and profit-driven national petroleum company; the codification of transparency, good governance, and accountability in the administration of oil and gas; the economic and social development of host communities; environmental remediation; and a business environment conducive for oil and gas operations to thrive”.

He held that “the efficient use of gas resources is a key component of achieving both energy security and reducing emissions. Gas is a cleaner burning fossil fuel than oil or coal, and it can play a significant role in reducing greenhouse gas emissions.

“In addition, the utilization of gas can help to diversify Nigeria’s energy mix and reduce the country’s dependence on oil”.

SOURCE: Vanguard News Nigeria

Leave a Reply

Your email address will not be published. Required fields are marked *