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- The Nigerian National Petroleum Corporation (NNPC) has said that Nigeria’s proven gas reserves of 192 trillion cubic feet (TCF) can only sustain the country’s plan to generate 20,000 megawatts (MW) of power and provide gas to guarantee 64 -metric tonne per annum (MTPA) growth in Liquefied Natural Gas (LNG) supplies for 36 years.
- The Corporation stated that going by Nigeria’s gas development plans, the reserves would need to be improved on. It however explained if nothing is done, and demands on gas remains at the current 3,000MW and 22MTPA, the reserves will last for 65 years.
- The corporation’s Group Managing Director, Dr. Maikanti Baru said Nigeria needs to quickly develop new gas sources, adding that the country has up to seven huge sources which the NNPC is looking at as possible areas for investment to be channeled.
- “The gas reserves in Nigeria currently stand at 192TCF. With the demand growth we will witness a sharp decline in reserve unless something is done to arrest the decline,” said Baru.
- “To increase our reserve therefore, we need to expand the areas for exploration for gas. The frontier basins need to be explored more aggressively. These basins include the Chad basin (40 blocks), Benue Trough (41 blocks), Anambra Basin (12 blocks), Sokoto Basin (28 blocks), Bida (17 blocks) and Dahomey (37 blocks). The Niger Delta (34 blocks) also needs to be explored further. There are about 200 oil and gas open acreages for allocation across different terrain in the country.”
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