+234-1-453-7796
info@equitypetroleum.com | | |

Nigeria needs a decade of gas utilization to transform sector – NLNG boss

source Emergy Mix Report on Nov 17, 2020

The Managing Director of the Nigeria Liquefied Natural Gas (NLNG) Limited, Mr. Tony Attah, has said the declaration of 2020 as the ‘Year of Gas’ by the federal government was not sufficient to bring about the required transformation in the country through gas utilisation.

He rather suggested that a decade should be dedicated to utilisation of gas to transform the country.

Attah said this during a webinar organised recently by the Oil and Gas Group of the Nigerian-British Chamber of Commerce (NBCC), with the theme: “Oil and Gas Downstream and Midstream Sectors: The Way Forward.”

He said the NLNG planned to increase its allocation of Liquefied Petroleum Gas (LPG) to the domestic market from 350, 000 metric tons (MT) to 450, 000MT by 2021.

Attah added that the essence of the move was to support the federal government’s plan to deepen the penetration of LPG, commonly known as cooking gas, in Nigeria.

Attah said with Nigeria being a gas country with a proven reserve of 203 trillion cubic feet, it was time to use the product to drive the nation’s human capacity development and economic growth.

According to him, the desire of the NLNG to deepen LPG penetration in Nigeria was to create a healthy life for Nigerians by giving them access to cleaner source of energy for cooking.

“In 2007, total consumption of LPG in Nigeria was about 50, 000MT. Today, it is about one million metric tonnes and NLNG’s contribution is 350, 000MT.

“We have approached our board to get a mandate to increase NLNG’s contribution to 450, 000MT from next year. That is a very positive contribution from NLNG, “Attah said.

He noted that apart from the domestic usage, about 60 per cent of gas was being supplied to power generating plants across the country for electricity purposes.

Attah pointed out that this would help create jobs for Nigerians and help to reposition the nation’s economy, following the challenges caused by the COVID-19 pandemic.

He said the world was moving toward cleaner energy sources, adding that gas would afford Nigeria the opportunity to become a key player in the energy transition mix.

 

Source: This Day


More Insights

EPSNL Insights in a collation of Nigeria's oil and Gas Industry news and developments pulled together from various sources to enhance our site's user awareness...


Previous Insights
Nigeria to benefit from Chinese $15bn investment in oil and gas sector

Nigeria’s energy sector is about to receive a major boost from huge investment decisions from China, which is eyeing key exploration operations in the oil and gas sector in Africa. According to a Modern Diplomacy report, China has a whopping $15 billion worth of investments planned in Africa’s oil sector. This massive price tag is…

Nigeria cut oil production by 600,000 barrels daily – Minister

The Minister of State, Petroleum Resources, Timipre Sylva, on Monday, said Nigeria has cut its crude oil production level from over 2 million barrels a day to 1.4m barrels in compliance with the quota endorsed by the Organisation of Petroleum Exporting Countries (OPEC). Sylva said this at the Presidential Villa, Abuja, while fielding questions from…

‘Nigeria, others could face $20b loss in oil export revenue’ – Report

Nigeria and four other oil producers on the continent could each be facing $20billion or more in lost export revenue this year as global oil demand is estimated never to exceed 2019 levels, with energy markets having reached a tipping point, a new report showed yesterday. The PricewaterhouseCoopers’ (PwC) Africa Oil & Gas Review 2020,…