Chevron Wants Gas Seller, Buyer to Determine Price

• Chevron Wants Gas Seller, Buyer to Determine Price

The Chairman/Managing Director of Chevron Nigeria Limited, Jeff Ewing, has called on industry stakeholders to support and enable the willing seller and buyer to determine gas pricing model in order to ensure the viability of the gas sector.

He also called for the privatisation of the various value chain sectors, as part of measures to untangle the bottlenecks in the industry.

Ewing spoke in Abuja at the 11th edition of the Nigerian Gas Association Conference and Exhibition, where he was represented by the Director, Downstream Gas, Mr. Sanjay Narasimhalu.

He described the opportunities for investments in the Nigerian gas sector as enormous, saying, “The opportunities include transitioning from an oil-based economy to a more integrated oil and gas economy and end routine gas flaring.

“Deliberate exploration for non-associated gas to support the Nigeria Gas Master Plan, with a focus on high liquid yield non-associated gas resources to optimise the gas development project economics; and growth of new industries made possible from the abundant resources and competitively priced gas supply.”

Ewing noted that Chevron had contributed immensely to the Nigerian government’s gas master plan through the various gas projects it had embarked on.

According to him, the oil major has been the highest contributor of high quality gas to the domestic market in Nigeria since 2015.

He stated that through investments in gathering and processing of associated gas, routine flaring was reduced by over 90 per cent from 2008 to 2017 in the CNL’s operations.

Ewing said the company had made significant effort towards the development gas sector in Nigeria, adding, “The CNL is optimistic about the future of oil and gas business in Nigeria. We have been making significant investments in the country for over 50 years and expect to do so for many more years to come.”