The National Oil Spill Detection and Response Agency (NOSDRA) disclosed that the value of gas flared by oil and gas companies from January to June 2020 worth about $445.7m.
NOSDRA stated that 222.8 billion standard cubic feet (bscf) of gas was flared during the period.
This was contained in a report by the agency as parts of effort by the federal government to utilize gas and curb gas flaring in the country.
According to NOSDRA, the $445.7 million represents the fine accruable to the government from the flare of $222.8bscf of gas.
The gas flare tracker report showed that in the six months period, the majority of the flares were from onshore oil and gas sites, which accounted for 60.9 per cent of total gas flared, while offshore sites accounted for 39.1 percent of the total.
The report indicated that 135.8 billion standard cubic feet of gas was flared on the onshore sites in the six months period, while 87 billion standard cubic feet of gas was flared offshore.
On the impact of the flares to the environment, the report further stated that the volume of gas flared in the six-month period is an equivalent of 11.8 million tonnes of carbon dioxide (CO2) emissions, and is capable of generating 22,300 Gigawatts-Hour (GWh) of electricity.
The breakdown showed that the 135.8 billion SCF of gas flared onshore, is valued at $475.5 million, an equivalent of N171.18 billion; would fetch a penalty of $271.7 million, an equivalent of N97.81 billion; translated to 7.2 million tonnes of CO2 emissions and capable of generating 13,600 GWh electricity.
At the onshore sites, the NOSDRA report stated that Delta State suffered the most from this practice in the six-month period, as it accounted for 38.4 percent of total gas flared onshore and 23.4 percent of total gas flared offshore.
It was disclosed that 52.2 billion SCF of gas was flared by the oil and gas companies operating in Delta State, translating to CO2 emissions of 2.8 million tones and an equivalent of 5,200 GWH of electricity. The volume of gas flared in the state is valued at $182.6 million and would fetch the companies, penalties of $104.4 million.
Rivers State followed with 38.5 billion SCF of flared gas, valued at $134.9 million; Bayelsa recorded gas flare totaling 27.1 billion SCF valued at $94.7 billion; while 9.9 billion SCF of gas was flared in Edo state, valued at $34.5 million.
Imo State recorded 6.0 billion SCF of flared gas valued at $21.1 million; Akwa Ibom 1.8 billion SCF, valued at $6.3 million; Abia 357.5 million SCF valued at $1.3 million and Anambra, 23.2 million SCF valued at $0.08 million.
Peace Obi with Agency Report
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