Nigeria to Utilize Natural Gas Resources
The Nigerian Federal Government is pursuing several initiatives intended to boost the development and exploitation of gas in the country. Through the establishment of the gas transition initiative government and the Nigeria National Petroleum Corporation (NNPC) plan to utilize the country’s largely untapped gas potential by stimulating gas demand and power generation.
“The NNPC is committed to supporting sustainable legislation that would bring about a transformation to the industry, promote transparency and accountability across the value chain,” stated Mele Kyari, Group Managing Director of NNPC.
According to Kyari, the Corporation has identified five primary objectives for the gas sector. These include delivery of the gas infrastructure blueprint through the AKK project, the growth of domestic gas utilization to five billion standard cubic feet by 2022, the development of 5GW of power generation by 2022, the exploration of transition, and the establishment of partnership and investment in the sector.
“The Buhari-led administration carved out these strategic priorities in order to foster the sustainability of the Nigerian economy, enhance energy availability, create well paid jobs, and take millions of Nigerians out of poverty,” stated H.E. Timipre Sylva, Minister of State for Petroleum Resources.
The NNPC is looking at the implementation of the Nigerian Gas Master Plan as a way to stimulate investment within the natural gas sector in the country. Accordingly, through the collaboration of infrastructure, sectoral development, and regulatory framework, the NNPC plans to utilize gas as a form of stability against the dwindling oil price.
Sylva contends that the transition initiative clearly stipulates the role that natural gas plays in Nigeria’s future energy sector, in both the medium and long-term.