The Nigerian National Petroleum Corporation (NNPC) and its partners have evolved a scheme to grow gas supply for domestic consumption by 285 per cent.

The NNPC said this in a statement signed by its Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, in Abuja on Wednesday.

Ughamadu quoted the Group Managing Director of the NNPC, Dr Maikanti Baru, as having said this while addressing partners at a 7 Critical Gas Development Projects (7CGDP) stakeholders’ meeting in Abuja.

Baru said the scheme was in line with the Federal Government mandate to stimulate the nation’s economic growth.

The gas growth, he said further, was expected to rise from three billion standard cubic feet per day (scf/d) to five billion scf/d by 2020.

Baru said: “The Federal Government has directed the corporation to aggressively pursue gas development to jump start the nation’s economic growth.

“The strategic focus for achieving this mandate include growing capacity to supply enough gas to generate 15 Gigawatts of electricity to the power sector by 2020.

“Stimulating gas-based industrialisation by positioning Nigeria as the African regional hub for gas-based industries such as Fertilizer, Petrochemicals.

“Methanol and developing gas for export by selectively expanding export footprint in high value and strategic foreign markets.’’

Baru further said appropriate funding for the seven critical gas projects would be a priority and a key success factor to be adopted in facilitating the execution of these vital projects.

According to him, there will be alternative funding through third party financing options.

He urged the partners to work together to ensure that the critical gas projects were executed expeditiously for the benefit of the country.

The NNPC boss also assured that top management of the corporation was available to work with all stakeholders to ensure timely delivery of the projects.

Responding on behalf of the partners, the Managing Director of Shell Petroleum Development Company (SPDC), Mr Osagie Okunbor, commended Baru for seeking optimal production and delivery of gas to power industry and for export.

“With proper alignment of the key parties, the projects would be delivered as scheduled.” Okunbor said.

The seven oil and gas companies earmarked for the project are: Assa North-Ohaji South Field Development, Oil Mining Lease 24 and OML 18 Joint Development.

Others are: SPDC Joint Venture/Nigeria Agip Oil Company Joint Venture Unitized Gas Fields, Chevron Nigeria Limited’s OML 49 Makaraba Cluster Development SPDC JV Gas Supply to Brass Fertilizer Company, among others.

They are meant to fast-track the execution of the project to enable NNPC to meet the 285 percent domestic gas supply growth projection. (NAN)

Update news