The Federal Government at the weekend hinted that it was targeting the delivery of about 3.4 billion standard cubic feet of gas(scft) per day to meet the medium-term supply demand in the domestic market by 2020.
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who made the disclosure at the 2018 convocation of the Petroleum Training Institute (PTI), Effurun, Delta State, maintained that the Federal Government was investing in seven critical gas development projects to meet the target
Represented at the ceremony by a top official of the ministry, Mr. Idang Alibi, the minister disclosed further that government had commenced that utilisation and monetisation of the abundant gas resources, through the doubling of its efforts in ensuring effective policies that will drive gas utilisation and commercialisation.
He said: “We have decided to invest in the seven critical gas development projects in Nigeria. These projects will deliver about 3.4 billion standard cubic feet of gas per day to bridge the medium-term supply gap by 2020. Also, federal government is increasing attention to the eradication of gas flaring, utilisation and monetisation of the abundant gas resources of the country.
“This is in realisation of the place of natural gas as the energy of the future. Although, it is not yet Uhuru as a substantial quantity of this precious resource is still being wasted through routine flaring,” the minister added.
According to him, two out of the 38 approved modular refineries would be commissioned by December 2018 to boost fuel supply in the country, one in Delta and the other in Rivers.
This is even as he spoke on the setting up a Steering Technical Committee by the government to reposition PTI for the purposes of enhancing its capacity and roles in the drive towards achieving local content development targets in the nation’s oil and gas industry.
In his keynote address, Delta State Governor, Senator Ifeanyi Okowa, pointed out that Nigeria had the best of opportunity now to build the human capital base for her current economic diversification agenda, adding that growing the economy cannot be based on exportation of crude oil as experiences have shown over the years.
The governor clarified: “It is not enough to export crude and market a few other products. We are all aware that the full value chain of the Petroleum Sector is yet to be exploited. I therefore, challenge the PTI to engage in research that will assist the Oil and Gas Industry in achieving its full potentials through value added and finished products.”
The Principal/Chief Executive of the Institute, Prof. Sunny Iyuke, said the institution “will continue to deliver on its mandate as stipulated in the Act establishing it. I want to assure you that the Institute is on course towards becoming the hub of human capacity development and contributing significantly to the Nigerian content in the Petroleum Industry.