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Business & Finance

NNPC Vows to Promote Gas Development

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Dr. Maikanti Baru, the Group Managing Director of the Nigerian National Petroleum Corporation said the corporation will ensure the maximization of the nation’s vast gas resources by incentivising all parts of the gas value chain.

He said the NNPC would support the Nigerian Gas Association to achieve its objectives of ensuring that the country derives maximum benefit from its huge gas resource base.

The GMD was quoted in a statement to have stated this while receiving the NGA delegation led by its President, Mr. Bolaji Osunsanya, at the NNPC Towers, Abuja.

He said as the midwife of the nation’s premier gas association in 1999, the NNPC had a moral and strategic interest in ensuring the continuous existence and sustained growth of the association.

“The NGA is a reflection of the development of the gas industry in Nigeria and they have contributed to the government in terms of advocacy and advice,” said Baru.

He described the theme of the forthcoming NGA conference, ‘Nigerian gas roadmap: potential for domestic, regional and global influence’ as quite apt at this period, especially with the country’s interests in the West Africa Gas Pipeline, Nigerian LNG Limited and the challenges in the power sector in the country.

Baru thanked the NGA for its advocacy in ensuring a review of the Production Sharing Contracts gas terms, adding that the NNPC was working hard to ensure the maximisation of the nation’s vast gas resources by incentivising all parts of the gas value chain.

“What I need from the NGA is a lot of advocacy and advice on whatever the sector requires. We will look at it, evaluate and see how best to make good use of it and drive the gas sector forward,” he said.

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Osunsanya said the purpose of the courtesy visit was to stimulate the much-needed conversation on a range of important and diverse perspectives regarding natural gas development and its economic benefits to Nigeria and the support of the NNPC for the conference.

“Nigeria is slowly turning to gas as a primary driver of the nation’s development. The NNPC, directly and in proxy, holds a significant position in the development of the sector, which is a further indication that the NNPC has a prominent role to play,” he said.

He called for increased dialogue and cooperation between the association and the state oil company, adding that by aligning with each other, Nigeria’s huge natural gas resources could be explored as the viable option to crude oil in the face of the present economic realities.

Osunsanya thanked the NNPC and Baru for the unflinching support for the association and pledged the readiness of its members to work with the corporation in this regard.

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