NNPC, stakeholders target gas revolution in South East

THE Nigerian National Petroleum Corporation ( NNPC), Gas Aggregation Company of Nigeria ( GACN) and oil and gas stakeholders have revealed plans to har - ness gas resources to the advantage of the South East.

At least 500 stakeholders, who gathered in Owerri at the weekened to discuss “Natural Gas Utilisation and Optimisation in Nigeria: Focus on the South Eastern Hub”, are aiming to expand gas utilisation in the region using market- based and government frameworks to clear all obstacles to the market’s transition.

Speaking at the event, the Minister of State for Petroleum Resources, Chief Timipre Sylva, insisted that there was a need for the country to prioritise utilising natural gas resources domestically, especially in the area of jobs creation and economy development.

“Government strongly believes that the South East has a pivotal role to play in Nigeria’s journey towards gas availability, broad utilisation and value optimisation, which is one of the reasons the South East was chosen as the first zone to host this forum,” Sylva said.

According to him, the ministry has made progress in the upgrade of the national gas utilisation framework by adopting and implementing innovative policies and initiatives aimed at positioning natural gas as major driver of the economy.

The minister added that apart from the South East’s natural gas deposit, which would be a useful for energy supply source, the region’s industrial composition provides for Nigeria’s gas market the complementary demand point needed to unlock the market’s potential.

The Federal Government had earlier in the year launched the Development and Operationalisation of The Nigerian Gas Transportation Network Code which guides the use and operations of the Gas Transportation Network system to entrench excellence and best practice in the domestic gas market while impacting positively on the growth and economic development of the country.

It also launched the National Gas Expansion Programme ( NGEP), Gas SectorWide Review of the Domestic Gas Pricing Framework, the deregulation of downstream petroleum sector as well as the AbujaKaduna- Kano ( AKK) gas pipeline project.