News Roundup
Outline of new gas policy
Nov 10, 2004, 17:00
| | Nigeria’s emerging new gas policy will place premium on the exploitation of non-associated gas while easing up the exploration and commercial production of natural gas already abundant in the country.
The Presidential Adviser on Petroleum and Energy Matters, Dr. Edmund Daukoru, while giving insight into the policy, now in the works, on 6 November stated that has stated that it aims at exposing the gas sector to greater investment to meet growing demands in the domestic and international gas markets.
Dr Daukoru who spoke on “Deregulation as a catalyst in creating opportunity for improved gas utilization”, at the International Gas Conference and Exhibition held in Abuja, confirmed that Nigeria has a proven gas reserve base of over 187 trillion cubic feet (tcf) while the World Bank estimates that gas demand will outstrip oil as early as 2025.
The Presidential adviser said that the gas policy is structured in such a way as to:
. Meet government’s aspiration to end routine gas flaring in the country by 2008,
. Satisfy stakeholders in addressing the key deregulation issues, and
. Enshrine the requirement that all future gas projects key-in the nation's participation in the entire gas value chain such that Nigeria's active membership in such international organizations as the Gas Producing and Exporting Countries Forum (GECF) can be effective and influential.
Dr Dakouru stated that this same requirement would apply to the nation's contribution to such regional gas projects such as the West Africa Gas Pipeline and the Trans-Sahara Gas Pipeline projects, as well as other trans-regional gas projects that will prove strategically important in the future.
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