The Federal Government has increased its gas production target to 12 billion cubic feet of gas production by 2030. FG’s new 12bcf/d gas production target is from the 10bcf/d previous target. This was revealed by the Special Adviser to the President on Energy, represented by the Team Lead, Gas, Lateef Biobaku, when Shell Nigeria Gas (SNG) engaged more than 100 gas off-takers in the Agbara Ota industrial zone in Ogun State.
A statement by SNG sent to Channels Television on Friday, said the Minister who used the opportunity to share the vision of the government for the oil and gas industry, said: “Our vision is to unlock Nigeria’s energy potential, to help fuel economic growth, to drive industrialisation and help diversify our economy. The aim is to attract investments to help raise oil and gas production to 4 million barrels per day and 12 billion cubic feet of gas per day by 2030.”
Last year, Nigeria generated approximately N8.6 trillion from natural gas production. Data from the NUPRC indicated that the country produced 2.5 trillion cubic feet of gas last year. The NUPRC data indicated that the country produced 1.44TCF of associated gas.
Associated gas is a form of natural gas found with deposits of petroleum, either dissolved in the oil or as a free ‘gas cap’ above the oil in the reservoir.
Post a Comment