Nigeria’s Gas Demand to Hit 15b Standard Cubic Feet
The Decade of Gas Initiative says Nigeria’s gas demand is projected to reach about 15 billion standard cubic feet (bscf) per day by 2030.
The Coordinating Director of the initiative, Mr Ed Ubong, disclosed this at the ongoing Nigeria Oil and Gas (NOG) Energy Week in Abuja.
Ubong, who spoke during a strategic panel session on ‘Maximising Gas Export Potential – Regional Integration for Meeting Global Demand ‘, said that the rise in demand would be driven by rising domestic consumption and growing export opportunities.
He noted that Nigeria’s gas exports had rebounded to a five-year high, while domestic gas supply had exceeded two bscf per day.
He added that the country’s proven gas reserves had increased to about 215 trillion cubic feet (tcf), with daily production nearing 7.87 bscf and gas flaring continuing to decline.
According to him, this underscores progress towards the Federal Government’s 2030 production target.
He said that ongoing infrastructure projects, including the completed OB3 gas pipeline crossing, compressor stations, the Ajaokuta-Kaduna-Kano (AKK) pipeline and the African Atlantic Gas Pipeline, would strengthen gas transmission, expand regional integration and unlock new markets.
”More than 20 gas projects are expected to add about 4.6 bscf per day to current production, enabling Nigeria to meet its 12 bscf daily production target,” he said.
Ubong also said that achieving the target would require a pricing framework that encouraged investment while ensuring affordability for consumers and maintaining export competitiveness.
He added that the federal government planned to distribute five million Liquefied Petroleum Gas (LPG) cylinders to rural women by 2030. He said this was part of efforts to deepen adoption of clean cooking.
