08-08-01 Nigeria's domestic gas demand will reach 1.8 bn cfpd by the end of this decade, according to the country's President Olusegun Obasanjo. Obasanjo said the country currently consumes 500 mm cfpd of gas, of which 225 mm cfpd is used for power generation. Gas demand and consumption will increase to 4.8 bn cfpd by 2020.
Obasanjo was quoted as saying Nigeria's present crude oil production stands at some 2 mm bpd. He also said Nigeria's oil reserves would reach 40 bn barrel by 2010, with a production capacity of 4 mm bpd. At the same time, he said gas output would increase to some 7.1 bn cfpd.