Monday, May 17Inside Business Africa
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Tag: Department of Petroleum Resources

Unlocking Nigeria’s economic possibilities via gas infrastructure

Unlocking Nigeria’s economic possibilities via gas infrastructure

Energy
For Nigeria and other African countries to minimize the effects of unstable oil prices and reduce dependence on oil, key investments must be geared towards developing Liquefied Natural Gas (LNG) infrastructure to encourage the adoption by local industries. Stakeholders and investors had raised concerns about the level of infrastructural development in the country, especially as it relates to LNG and government’s gas commercialisation agenda. According to the latest data from the Department of Petroleum Resources (DPR), Nigeria produces 8.3bsfcd of gas despite gas reserves of 203tcf. The country exports 41 per cent of its gas; uses 31 per cent in oil fields and plants for fuel, gas lift and re-injection; while 18 per cent is utilised in the domestic market for power and 10 per cen...