|NGMP 2008 Investor Roadshow|
The Federal Ministry of Energy (Gas) and the Nigeria National Petroleum Corporation (NNPC) invite interested investors in the gas sector to the Nigerian Gas Investor Roadshow. To drive aggressive growth in Nigeria's gas sector, the Federal Government of Nigeria recently approved the Nigerian Gas Masterplan. The investor roadshow will showcase investment opportunities inherent in the masterplan.
Minister of Energy (Gas), Emmanuel Odusina, has disclosed that government has concluded plans to embark on an investor road-show in Abuja, London and Singapore.
This is sequel to recent approval of the Gas Masterplan by the Federal Government, to provide gas infrastructure estimated at $30billion.
Odusina said this while addressing stakeholders, at the gas conference, organised by Nigerian Energy Digest in Lagos, adding that gas in Nigeria has been under-utilised, as 31 per cent, which amount to 2.3billion standard cubic feet is being flared per day.
According to him, the road-show would provide a platform for government to elect a foreign gas company to partner with in transforming the sector.
"In essence, government is looking for serious investors who will partner with Nigeria on the platform of Private-Public initiatives to consolidate its gas infrastructure and enable major growth in export and domestic gas market.
At the current proven reserves of 185TCF, Nigeria has the seventh largest gas reserves in the world and also has a potential for additional 200TCF. So, dedicated gas exploration is expected to significantly increase the gas reserves with the potential to make it the world's fourth largest after countries like Russia, Iran and Qatar," he said.
THISDAY investigations revealed that in recent times, there had been an unprecedented growth in gas demand from Nigeria, both from domestic and export markets.
From a current demand level of about four to five bcf/d, there has been an expression of interest in gas demand, which is forecast to peak at a bout 20bcf/d by 2015. If realised, this would translate to a huge economic potential for the economy. More importantly, it would permanently address the issue of gas-flaring, as there is now a market potential huge enough to utilise associated gas.