Nigeria’s Gas Reserves Now 202trn Cubic Feet

By October 23, 2018 Investment News

Nigeria’s current proven gas reserve has gone up to 202 trillion cubic feet (tcf) from the initial figure of 199tcf, the Nigerian National Petroleum Corporation (NNPC) has disclosed.

The corporation also stated that the country’s unproven gas reserves is now about 600tcf.
It explained that based on these numbers, Nigeria had almost 10 times the gas reserves base of Trinidad and Tobago, and could be in the same league as Iran, Qatar, and Russia.

Providing an update on Nigeria’s gas credentials, the Group Managing Director of NNPC, Dr. Maikanti Baru, equally revealed that on the average, Nigeria’s current gas production is in the region of 8.5 billion standard cubic feet per day (bscfd).

He noted that of this volume about 3.7bscfd, representing 43 per cent of total gas production was exported, while 2.7bscfd – 32 per cent of total gas production is used upstream for gas re-injection and gas-lift, 1.5bscfd – 18 per cent of total gas production is used domestically for power generation and industries, while the balance of 0.6bscfd representing seven per cent of total gas production is currently being flared at fields in the Niger Delta.

Baru, said the country had significantly increased domestic gas supply and reformed the commercial framework for gas by reviewing the domestic gas price to export parity as well as developed standard gas supply agreements.

According to him, the NNPC has equally developed a clear cut strategy for growing gas supply to meet the unprecedented growth in domestic gas demand by completing its short term gas supply projects and increasing supply from its subsidiary – the Nigerian Petroleum Development Company (NPDC) Oredo, Utorogu and Odidi re-entry projects.

Speaking at the just concluded 11th edition of the Nigerian Gas Association (NGA) international conference and exhibition in Abuja, he also said upon completion, the projects would deliver about 240 million standard cubic feet of gas per day (mmscfd) to the domestic market by the fourth quarter (Q4) of 2018.

Baru, indicated the NNPC had made massive investment in the promotion of the usage of cooking gas with the revamp of the eight liquefied petroleum gas (LPG) butanisation plants in Apapa; Ibadan; Oshogbo; Enugu; Ilorin; Gombe; Makurdi and Kano.

“Our plan is to connect all the stations through pipelines to bring LPG closer to consumers,” Baru said, while calling on members of NGA to join forces with the NNPC and other stakeholders to ensure Nigeria’s gas sector is developed.

He stated the NNPC had executed a novel contract with a private firm for the activation of virtual gas pipeline network for power generation.
The project, he noted would be facilitated with the installation of mini liquefied natural gas (LNG) plants designed to supply, in the first instance, about 84mmscfd of gas from production fields using customised cryogenic tankers to areas that are not easily accessible through pipelines.

Baru, said the supply technique would develop Nigeria’s energy sector and consequently help revitalise the manufacturing, textile and housing sectors with the provision of affordable electricity.
In his remarks, the immediate past president of NGA, Mr. Dada Thomas, highlighted the need for Nigeria to achieve optimisation of its enormous gas resources through constructive engagements with stakeholders across value chain.


Source: ThisDay