he President, Major General Muhammadu Buhari (retd.), on Tuesday told global gas exporting countries that the Federal Government would invest and focus more attention on natural gas exploitation in Nigeria.
Buhari, who disclosed this at the sixth Gas Exporting Countries Forum of Heads of State and Government in Doha, Qatar, said the enactment of the Petroleum Industry Act was designed to enable Nigeria derive more value from natural gas.
Represented at the event by the Minister of State for Petroleum Resources, Chief Timipre Sylva, the President said the PIA would provide the required governance, regulatory and fiscal framework to support the growth of the gas industry.
He was quoted in a statement issued in Abuja by the media aide to Sylva, Horatius Egua, as saying, “Nigeria, a gas province with some oil, is committed to sustainable growth of natural gas exploitation and utilisation, both for domestic use and export via Liquefied Natural Gas and pipeline gas to sub-regional African countries.
“Nigeria is embarking on different initiatives, projects, and policies to enhance the performance of the oil and gas sector.”
The President said one of the gas initiatives currently being embarked on by the Federal Government was the National Gas Expansion Programme, designed to provide the framework and policy support to extend gas supply and utilisation in power generation, gas-based industries, and in emerging niche gas sectors.
The other initiatives according to the President include the Ajaokuta-Abuja-Kano gas pipeline to support five billion cubic feet per day of domestic gas utilisation in the near term and 5-Gigawatt power generation.
Buhari said the government was expanding of the current LNG production capacity to about 30 million tonnes per annum at Bonny with the ongoing N-LNG Train-7 project and the declaration of 2021-2030 as the decade of gas towards a gas-powered economy.
The President noted that the GECF, given its member countries’ vast natural gas resources and experience in the industry, was well positioned to provide a credible platform to promote natural gas as a sustainable fuel for effective energy transition.
“We therefore need to continue to assess the gas and energy market dynamics both in the short, medium, and long-term, with the aim of taking market opportunities and collectively address the challenges,” Buhari stated.
Buhari called for the need to work together as policymakers, investors, energy industry decision makers, researchers, and technology developers to make modern energy sources such as natural gas available and affordable to all.
Copyright PUNCH.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: [email protected]
