LNG boss duties FG to start the monetization of Nigeria’s gasoline

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The MD and CEO of Nigeria LNG Limited Mr. Tony Attah has tasked the Federal Government to start the revamping and monetization of the Gas sector in Nigeria.

He made this statement whereas making his presentation on the 2nd digital Nigerian Gas Association (NGA) Industry Multilogues, with the theme: “Powering Forward, Enabling Nigeria’s Industrialization via Gas.”

Mr. Tony Attah drew the eye of the viewers to the hidden treasure within the Nigerian Gas business which he believes just isn’t getting sufficient consideration from the federal government.

On the way forward for gasoline instead power supply, Mr. Attah acknowledged that the developed world is already keying into gasoline as an alternative choice to crude oil. Gas has confirmed to be a cleaner and extra sustainable different.

He exclaimed that Nigeria may be very wealthy in gasoline and but poor in power. Nigeria is the ninth nation with the most important gasoline reserves on the planet however makes little or no use of it.

Mr. Attah went additional to color a transparent image of the promise of investing in gasoline utilizing the success achieved by Qatar. Qatar is presently the most important LNG exporter on the planet.

We just touched on a quick case study of Qatar. Someone mentioned Qatar already from a poor fishing country to a gas giant and it took just 10 years, which is why we, as Nigeria LNG, firmly believe in the conversation and the narrative about the declaration of the decade of gas.

“We believe it is possible. If you look at Qatar from 1995, when they really went into gas development, we were just two years behind Qatar. So, Qatar’s first LNG was in 1997.

Nigeria’s first LNG was in 1999, just two years behind. But then, within 10 years, because of the deliberateness of the government and focus on gas, they have gone to 77 million tonnes and we are at best, 22 million tonnes,” Attah stated.

Mr. Attah careworn additional the significance of the gasoline sector in Nigeria’s future. He recalled that the Nigerian Government declared 2021-2030 as the last decade of gasoline. He pleaded with the federal government to take the sector extra critically as the way forward for Nigeria’s power lies with it.

Gas is the future. That future is now, and just as the Minister of State has made us to realize, gas is food in fertilizer. Gas is transport as you saw in the Auto gas project that was declared.

Gas is life, as a matter of fact, for cooking, for heating, for existence. Gas is development in manufacturing, gas is power. Gas is everything. “We think it’s time for gas. It’s time for Nigeria to diversify and that is why we fully support the decade of gas,” he stated.

What it is best to know

  • Early final yr, the director of the Department of Petroleum Resources (DPR) Mr Sarki Auwalu confirmed that Nigeria’s confirmed gasoline reserve stood at 203.16 trillion cubic toes.
  • Nigeria has the ninth largest gasoline reserves on the planet. It can also be the sixth largest exporter of gasoline.
  • The Federal Government declared the yr 2021–2030 because the “Year of the Gas“. It pledged to lastly kick begin the event and commercialization of Nigeria’s enormous gasoline reserves.

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