In keeping with the objectives of the United Nation’s 2030 Agenda for Sustainable Development and the Paris Climate Accord, the Nigerian National Petroleum Corporation (NNPC) says it is focusing on growing the nation’s domestic gas utilization for balanced economic growth.
Group Managing Director of NNPC, Mr. Mele Kyari, disclosed this Tuesday at the BusinessDay Energy Series Summit which held virtually with the theme: “Nigeria at 60: Harnessing Nigeria’s Energy for the Future”.
Kyari restated NNPC’s commitment to the aggressive implementation of the Nigerian Gas Master Plan as a way of stimulating massive and sustainable economic development using natural gas which the nation has in abundance.
Speaking on the topic: “NNPC’s Perspectives on Nigeria’s Gas Sector Development,” Kyari said apart from the Corporation’s commitment to deliver key gas infrastructural projects such as the Escravos-Lagos Pipeline System II (ELPS II), the Obiafu-Obrikom-Oben (OB3) Gas Pipeline, the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, and Central Gas Processing Facilities (CGPFs), NNPC was working on growing domestic gas utilization to 5billion standard cubic feet of gas per day (scf/d) and developing 5gigawatts (GW) of power generation by 2022.
“At the NNPC, we are aggressively pursuing other gas development initiatives with the aim of improving Nigeria’s economy using the appropriate fuels. In terms of Gas and Power, we are developing and integrating gas and power infrastructure networks as well as stimulating gas demand (power generation, feedstock and transport, etc.),” the GMD informed.
He said NNPC was also exploring partnerships and investments in transmission to unlock evacuation and improve power distribution across the country, stressing that the Nigerian Liquefied Natural Gas (NLNG) Train 7 would be delivered by 2024.
“We are equally collaborating among key industry players and government agencies on key sectors even as we are developing energy related policies and investment packages to attract Foreign Direct Investment (FDI),” the NNPC boss stated.
He said the focus on the development of key areas will not only expand the Corporation’s domestic gas footprints, but also support the development of petrochemicals, fertilizer, methanol and other gas-based industries that will generate employment and facilitate balanced economic growth.
On the Petroleum Industry Bill (PIB), he said, “I would not end this discussion without emphasizing the need for proper legislation. The passage of the PIB is long overdue. It is one piece of legislation that will expand economic growth via improved revenue flows from the oil and gas sector and make the industry efficient and competitive. NNPC is committed to supporting a sustainable legislation that will bring transformation to the industry, promote transparency and accountability across the value chain, the GMD added.