What Buhari Told Global Community On Natural Gas Exploitation

President Muhammadu Buhari has hinted the global gas exporting countries that his administration  would invest and focus more attention on natural gas exploitation in Nigeria.

President Buhari made this known at the sixth gas exporting countries forum of heads of state and government in Doha, Qatar.

He added that the enactment of the Petroleum Industry Act was designed to enable Nigeria derive more value from natural gas.

The president who was represented at the event by the Minister of State for Petroleum Resources, Chief Timipre Sylva, said the PIA would provide the required governance, regulatory and fiscal framework to support the growth of the gas industry.

President Buhari was quoted in a statement issued in Abuja by the media aide to Sylva, Horatius Egua, as saying, “Nigeria, a gas province with some oil, is committed to sustainable growth of natural gas exploitation and utilisation, both for domestic use and export via Liquefied Natural Gas and pipeline gas to sub-regional African countries.

“Nigeria is embarking on different initiatives, projects, and policies to enhance the performance of the oil and gas sector.”

According to him, one of the gas initiatives currently being embarked on by the Federal Government was the National Gas Expansion Programme, designed to provide the framework and policy support to extend gas supply and utilisation in power generation, gas-based industries, and in emerging niche gas sectors.

The other initiatives according to the President include the Ajaokuta-Abuja-Kano gas pipeline to support five billion cubic feet per day of domestic gas utilisation in the near term and 5-Gigawatt power generation.

The government was expanding of the current LNG production capacity to about 30 million tonnes per annum at Bonny with the ongoing N-LNG Train-7 project and the declaration of 2021-2030 as the decade of gas towards a gas-powered economy.

He added that the GECF, given its member countries’ vast natural gas resources and experience in the industry, was well positioned to provide a credible platform to promote natural gas as a sustainable fuel for effective energy transition.

“We therefore need to continue to assess the gas and energy market dynamics both in the short, medium, and long-term, with the aim of taking market opportunities and collectively address the challenges.”