NNPC To Stimulate Economic Growth Through Gas Master plan Implementation

…To Grow Domestic Gas Utilization To Five billion SCF Per Day

The Nigerian National Petroleum Corporation has announced its commitment to 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.

The Group Managing Director of the NNPC, Mele Kyari disclosed this on Tuesday at the BusinessDay virtual Energy Series Summit themed, “Nigeria at 60: Harnessing Nigeria’s Energy for the Future.”

The GMD spoke on the topic: “NNPC’s Perspectives on Nigeria’s Gas Sector Development.”

The GMD, explained that the Corporation is aggressively pursuing other gas development initiatives with the aim of improving Nigeria’s economy using the appropriate measures.

He said, “In terms of Gas and Power, we are developing and integrating gas and power infrastructure networks (increase interconnectivity) as well as stimulating gas demand (power generation, feedstock and transport, etc.).”

He said NNPC was also exploring partnerships and investments in transmission to improve power distribution across the country.

He expressed optimism that the Nigerian Liquefied Natural Gas Train 7 would be delivered by 2024.

Kyari said, “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.

“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 is focusing on growing the nation’s domestic gas utilization for balanced economic growth.”

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.

He said apart from the Corporation’s commitment to deliver key gas infrastructural projects such as the Escravos-Lagos Pipeline System II, the Obiafu-Obrikom-Oben Gas Pipeline, the Ajaokuta-Kaduna-Kano Gas Pipeline, and Central Gas Processing Facilities, the NNPC was working on growing domestic gas utilization to five billion standard cubic feet of gas per day (l and developing five gigawatts of power generation by 2022.

He applauded the support of President Muhammadu Buhari and the efforts of the Minister of State for Petroleum Resources, Timipre Sylva, in driving initiatives aimed at positioning natural gas for sustainable development.

The NNPC GMD noted that a number of the Federal Government’s gas initiatives such as the Seven Big Wins, the National Economic Recovery and Growth Plan, the National Gas Policy (2017), have helped in pushing the gas development agenda.

On the Petroluem Industry Bill, the NNPC Boss said the passage of the Bill was long overdue

He said the Bill, when passed into law, would open up investments in the sector as well as boost competitiveness.

Kyari added, “I would not end this discussion without emphasizing the need for proper legislation. The passage of Nigeria’s Petroleum Industry Bill 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.”