NLNG boss admonishes Nigeria to use gas for accelerated growth.

Chinazor Megbolu |

The Managing Director, Nigeria LNG Limited (NLNG), Mr. Tony Attah, has counseled on the Nigeria’s gas resources potentials.

He said that the large deposit of gas resources in the country would be useless if it is not developed and utilised urgently to meet the country’s energy needs.

Attah, disclosed this at the pre-summit conference of the 2021 Nigeria International Petroleum Summit (NIPS) organised by the Federal Ministry of Petroleum Resources, saying that it is necessary to act now on gas through deliberate policies such as the Decade of Gas.

He noted that Nigeria must not keep on being a gas-rich and energy-poor where gas processing and LNG capacity do not match the volume of its gas reserves.

He also explained that the time for Nigeria to become a top gas country is now when gas is playing a pivotal role in bridging traditional energy sources and renewables.

According to him; “our world is changing. We are set to add two billion more people by 2040 to become 9 billion people on earth.

“On the back of this and anticipated growth in human prosperity, energy demand is expected to grow by more than 30 per cent.

“Essentially, the world needs more energy; but needs it cleaner and cheaper to manage climate change and the 20C challenge through decarbonisation.

“Energy transition has begun, resulting in massive change in the global energy mix while renewable sources are gaining prominence to replace coal and other forms of fossil fuels.

“Gas is set to be the fastest growing transition fuel of the future. This is a great opportunity for Nigeria. Nigeria is blessed with plenty gas reserves – 200TCF of proved reserve and an additional 600TCF scope to be proven by SEC rules.

“Proving the 600TCF will move us to number four in the world from the current 9th position which I believe should be a key objective for this decade of gas agenda.

“Essentially, Nigeria is a gas nation as we have more gas than oil on a BoE basis.

“Nigeria currently plays a significant role in the global energy sector, holding the position of the largest oil and gas producer in Africa and the sixth supplier of global LNG through the operations of NLNG.

” Our Train 7 project alone will attract about $10 billion into the country with significant revenue generation for government and our shareholders but also over 12,000 jobs opportunity for Nigerians.

“This is a decade of gas, another decade of sustained operations in NLNG, a decade of Train 7 and perhaps Trains 8,9 and 10; a decade of elimination of gas flaring, a decade of more Domestic LPG in households in Nigeria; and overall, a decade of fully gas-powered economy.

“Gas is everything for Nigeria. We must use what we have to get what we want. Saudi Arabia and Dubai used oil to move their economies to becoming one of the best in the world, Qatar has used gas to transform from a fishing economy to becoming a global gas giant.

“Nigeria has both oil and gas. However, Nigeria has thus far ridden on the back of oil for over 50 years, but the time has come for Nigeria to fly on the wings of gas. At NLNG, we believe It is time for gas”.