The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority(NMDPRA), Mr. Farouk Ahmed, has said the National Gas Flare Commercialization Program (NGFCP) aimed at monetizing huge volumes of natural gas being flared during oil production will create 300,000 jobs annually.
The NGCFP when activated, will also produce about 600 tonnes of Liquefied Petroleum Gas (LPG), provide clean energy for 6 million households, and 2 gigawatts (2000MW) of electricity annually.
Farouk made this known in Lagos at the 2022 annual conference of the Nigeria Association of Energy Correspondents (NAEC), with the theme: “Energy Transition: “Shaping the Future of Nigeria’s Energy Industry, an Appraisal of PIA, Evolving Benefits and Challenges.”
Farouk said, “The Nigerian gas flare commercialization program harnesses gas flare for sustainable and value wealth creation. This can unlock and generate approximately 2.5GW of power, 600 tonnes of LPG annually, and create 300,000 direct and indirect jobs while eliminating carbon emissions and providing clean energy for 6 million households.”
Dr. Zainab Gobir, who was represented by the Executive Director, Economic Regulations and Strategic Planning, NMDPRA, said other initiatives and plans are in place to facilitate the shift to a gas-based economy including the declaration of the ‘Decade of Gas’, to foster economic growth and industrialization driven by gas.
According to Farouk, other initiatives including the National Gas Expansion Programme (NGEP) for the penetration and utilization of LPG, Compressed Natural Gas (CNG), and Domestic Liquefied Natural Gas (DLNG), will improve energy access, increase household consumption, and create an alternative energy source.
It can be recalled that on August 16, Investors King reported that the Federal Government through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has inaugurated a 12-member ‘Gas Flare Commercialization Program Team’ to manage the nation’s gas flaring.
Engineer Gbenga Komolafe, the Chief Executive of NUPRC said, to monetize gas resources is to take a favorable step toward protecting energy security, particularly in this period of the global energy transition.