Nigeria’s current proven gas reserve has gone up to 202 trillion cubic feet (tcf) from the initial figure of 199tcf, the Nigerian National Petroleum Corporation (NNPC) has disclosed.
The corporation also stated that the country’s unproven gas reserves is now about 600tcf.
It explained that based on these numbers, Nigeria had almost 10 times the gas reserves base of Trinidad and Tobago, and could be in the same league as Iran, Qatar, and Russia. Providing an update on Nigeria’s gas credentials, the Group Managing Director of NNPC, Dr. Maikanti Baru, equally revealed that on the average, Nigeria’s current gas production is in the region of 8.5 billion standard cubic feet per day (bscfd).
He noted that of this volume about 3.7bscfd, representing 43 per cent of total gas production was exported, while 2.7bscfd – 32 per cent of total gas production is used upstream for gas re-injection and gas-lift, 1.5bscfd – 18 per cent of total gas production is used domestically for power generation and industries, while the balance of 0.6bscfd representing seven per cent of total gas production is currently being flared at fields in the Niger Delta.
Baru, said the country had significantly increased domestic gas supply and reformed the commercial framework for gas by reviewing the domestic gas price to export parity as well as developed standard gas supply agreements. According to him, the NNPC has equally developed a clear cut strategy for growing gas supply to meet the unprecedented growth in domestic gas demand by completing its short term gas supply projects and increasing supply from its subsidiary – the Nigerian Petroleum Development Company (NPDC) Oredo, Utorogu and Odidi re-entry projects.
Source: THIS DAY