Flared gas in Nigeria is enough to generate between two and three gigawatts (Gw) of electricity. Nigerian Gas Association (NGA)President, Dada Thomas, said this while speaking on natural gas under-utilisation to power the economy.
In a document titled: “Natural gas as a catalyst for Nigeria economic transformation: Technical challenges and opportunities”, Thomas, who is also the Chief Executive Officer, Frontier Oil Limited, said the country with 192 trillion cubic feet (Tcf) reserves, has the world’s ninth conventional gas reserves. However, Nigeria only ranks about 22nd in terms of gas production and even lower consumption.”
According to Thomas, the domestic gas market has grown over the years, but still only 13 per cent or 1.01 billion cubic feet (Bcf) of total gas production of 7.5Bcf per day is consumed locally, while 43 per cent is exported via liquefied natural gas (LNG) and West African Gas Pipeline, 34 per cent is used for gas injection and 10 per cent flared.
Thomas said the failure to harness gas resources effectively and equitably for the benefits of all Nigerians and investors, is not an option. With a population, which according to World Bank, is growing at three per cent per annum and projected to reach 233 million by 2025, and GDP growth lagging at 2.7 per cent per annum, failure is not an option.
Source: The NationNo tags for this post.