NNPC Eyes 3.4bscfd Domestic Gas Supply

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  • NNPC Eyes 3.4bscfd Domestic Gas Supply

The Nigerian National Petroleum Corporation (NNPC) plans to deliver about 3.4 billion standard cubic feet per day (bscfd) of domestic gas supply to bridge existing and anticipated supply gap by 2020.

Its Group Managing Director, Dr. Maikanti Baru, stated this yesterday in Lagos while delivering his keynote address at the ‘7 Critical Gas Development Projects Technical/Framing Workshop organised by the Corporation in collaboration with the International Oil Companies (IOCs) to find ways to boost gas supply.

He said the NNPC is targeting to bridge existing domestic gas supply deficit gap of between 3billion and 3.4billion standard cubic feet per day by 2020.

According to him, to achieve the nation’s strategic aspirations, the state oil firm has identified 7 Critical Gas Development Projects (7CGDP) to deliver about 3.4bscfd to bridge the foreseen medium term supply of gas by 2020, which will be implemented on an accelerated basis.

“Strategy of gas is to leverage the full potential of gas to achieve massive impact on the economy and GDP (gross domestic product) by growing gas supply to support at least 15 gigawatts (GW) by 2020.

“Nigeria to be the regional hub of gas based industries such as fertilizer, petrochemical methanol, liquefied petroleum gas (LPG) and leverage our footprint in high value gas export through liquefied natural gas (LNG) and regional gas pipelines,” he said.

The NNPC chief said the workshop is one of the high points in NNPC’s journey to realise the mandate to stimulate unprecedented economic growth through the pursuit of aggressive gas development.

He said the issue of inadequate gas supply to the domestic market has gathered a lot of momentum and has been in the front burner in Nigeria in the past several years and the Corporation. “So, today framing workshop marks a major milestone in the quest to bridge gas supply and demand shortfall.

“The seven critical gas development projects (5 NNPC/JV and 2 NPDC) have been identified as quick wins that would deliver the required volumes to bridge gas supply and demand shortfall.

“There could not be a more appropriate forum and considering the caliber of the audience seated in this hall, I have no doubt that the expectation and the objectives of the workshop will be surpassed,” Baru said.

Baru said the Corporation has engaged two world class project management consultants, DeltaAfrik/Worley Parson and Crestech/Penspen) that will work with Nigerian Petroleum Development Company (NPDC) and NNPC Joint Venture (JV) partners and other stakeholders to achieve the set project deliverables.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years experience as a foreign exchange research analyst and trader.

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