The NNPC and its key partners have listed seven critical gas projects to fast its target of 5 billion standard cubic feet per day (bscf/d) gas supply for domestic consumption from its current 1.3bscf/d by the year 2020.
This is a staggering 285% increase expected in next three years to realize the Federal Government’s mandate to deploy the nation’s gas resources to stimulate economic growth,
This was disclosed at the 7 Critical Gas Development Projects (7CGDP) stakeholders’ meeting on Tuesday at the NNPC Towers in Abuja.
The strategic focus, as outlined by the Group Managing Director of NNPC, Dr. Maikanti Kacalla Baru, for achieving the Federal Government’s mandate to include growing capacity to supply enough gas to generate 15 Gigawatts of electricity to the power sector by 2020, stimulating gas-based industrialisation by positioning Nigeria as the African regional hub for gas-based industries such as fertilizer, petrochemicals, methanol and developing gas for export by selectively expanding export footprint in high value and strategic foreign markets.
It was revealed that alternative funding through third party financing option would be adopted to facilitate execution of these vital projects as appropriate funding for the seven (7) critical gas projects should be a priority and a key success factor.
The Managing Director of Shell Petroleum Development Company (SPDC), Mr. Osagie Okunbor, assured that with proper alignment of the key parties, the projects would be delivered as scheduled.
Also, the Director of Department of Petroleum Resources, Mr. Mordecai Ladan, through his representative at the meeting, assured the stakeholders that the DPR would provide all the needed support to ensure the timely delivery of the projects.
See list of the partners here