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Nigeria: Govt Targets U S $200 Million Yearly Revenue From NPDC Gas Facility
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Nigeria: Revving Up Gas Utilisation
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By Emmanuel Addeh
The federal government said yesterday that the Integrated Gas Handling Facility (IGHF) and Liquefied Petroleum Gas (LPG) processing and dispensing plants in Ologbo, Edo State, would generate $200 million in annual revenue into the country’s coffers.
“The lean gas can generate at least 267 megawatts of power per day and also ensure feedstock to gas-based industries. In total , the NPDC stands to generate revenue in excess of $200m per annum from the IGHF plant,” a documentary put together by the NPDC during the event showed.
Speaking during a partially virtual and physical ceremony to officially declare the over 200 million standard cubit feet per day project open, President Muhammadu Buhari said Nigeria has moved a step closer to the nation’s dream of full utilisation of its abundant gas potential.
Emmanuel Addeh writes on federal government’s shift to commercial and domestic use of gas, a resource that the country has in abundance
The year 2020 has witnessed a major resurgence of attention to the role that gas resources could play in the development of the Nigerian economy and as a major source of government revenue.
It’s been a year that gas has featured prominently, like never before, in conversations around developing the sector and taking the gaze away from crude oil, which is very minute compared to the massive gas resources available in the country.
Aside the NLNG Final Investment Decision (FID) on Train-7, the flag-off of the 614km Ajaokuta-Kaduna-Kano (AKK) gas pipeline, down to recent rollout of the Autogas scheme, the federal government is yet again about pushing for an increase in Nigeria’s gas utilisation quotient with the commissioning of the Nigerian Petroleum Development Company (NPDC) 200mmscf Integrated Gas Handling Facility (IGHF) and LPG Units.
Sanusi Barkindo
Emmanuel Addeh writes on how an attempt to proffer solutions to the crisis currently besetting the global oil market, brought together key decision makers and stakeholders in Nigeria’s oil and gas industry, last week, in a virtual meeting
Arguably, no year like 2020, has more aptly conveyed the volatility and unpredictability of the global crude oil market, which has left many countries and companies struggling for survival.
Since March, the spread of the COVID-19 pandemic succeeded in reversing nearly all the positive momentum in oil prices garnered before then, leaving in its trail a pessimistic oil demand outlook on the back of severe oversupply.
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