As part of renewed efforts at harnessing the financial potentials of natural gas development, the federal government said it will increase the country’s natural gas production to 10 billion standard cubic feet per day (bscfd) by 2019 from the current 6.8bn bscfd.
This according to the government is tied to the implementation of the new roadmap for the oil and gas industry, tagged 7 Big Wins.
The government also said it had secured over $2 billion commitment from potential investors in the Gas Export Processing Zone (EPZ) in Delta State.
The minister of state for petroleum resources, Ibe Kachikwu, disclosed this on the sidelines of the public presentation of short and medium-term priorities to grow Nigeria’s oil and gas industry in Abuja.
The minister noted that the roadmap provides a workable plan which would ensure that adequate infrastructure is put in place to ramp up the nation’s crude oil production while contributing positively in the area of gas-to-power by boosting gas production to 10bscfd by 2019.
On the gas revolution plan of the roadmap, Kachikwu said the programme woud contain “new infrastructure and gas terms that would encourage the roll-out of a national blueprint for backbone gas pipeline and processing infrastructure that will enable flexibility in supply delivery and provide a viable source of income for the country.”
