The Nigerian National Petroleum Corporation (NNPC), along with its partners, has developed a scheme to grow gas supply for domestic consumption by 285%, All Africa reported.
According to Premium Times, the announcement was released by NNPC’ Group Managing Director, Maikanti Baru, while addressing partners at a 7 Critical Gas Development Projects (7CGDP) stakeholders’ meeting in Abuja that was held in Mid-April.
Mr. Baru noted that the scheme is in line with the federal government’s mandate to stimulate the nation’s economic growth.
According to Mr. Baru, the gas growth is expected to rise from 3bcf/d to 5bcf/d by 2020.
“The Federal Government has directed the corporation to aggressively pursue gas development to jump start the nation’s economic growth” Mr. Baru noted.
“The strategic focus for achieving this mandate includes growing capacity to supply enough gas to generate 15 GW of electricity to the power sector by 2020,” he said.
Mr. Baru further added that the 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. He mentioned that there will be alternative funding through third-party financing options.