Nigeria has 124 tcf of gas reserve

Sep 23, 1998 02:00 AM

Nigeria's natural gas reserve stood at 124 tcf, or 3.4 trillion cm as at the end of 1997, which is the 10th largest in the world.
Dalhatu Bayero, managing director of the Nigerian National Petroleum Corporation (NNPC) said this at a seminar entitled "Nigerian gas, from waste to resources" in capital Abuja.
The official also put Nigeria's crude oil reserve at 25 bn barrels, with a production ratio of about 30 years.
Bayero said the country's gas reserve may increase to 300 tcf or 8.41 trillion cm as exploration continues.
He disclosed that the NNPC have put in place 1,800 km of gas pipeline network with a daily designed delivery capacity of 2.5 bn cf.
Through the pipelines, natural gas are currently delivered to Lagos, Kogi and Akwa Ibom states from gas fields in the Niger Delta basin, he said.
The official, however, regretted that the absence of a national gas policy, inadequate pricing and shortage of fund are preventing Nigeria from a better utilisation of its gas resources.
According to him, about 80 % of the gas produced in association with crude oil are currently being flared in Nigeria, compared with less than 20 % in other major oil-producing countries such as Saudi Arabia, Libya, Iran and Venezuela.
The official called for a deregulation of the energy market to encourage private investment and a national gas policy to define the roles of producers, end-users and the government.
In this end, he disclosed that the government has already approved the construction of a 350 MW power plant in the Rivers State by the Mobile Production Nigeria Corporation, which will be powered by natural gas produced by Mobil and NNPC's oil fields.

Source: not available
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