FEC approves policy to make gas a hub of our economy—Kachukwu tells PENGASSAN
More details have emerged on the federal government’s new drive to grow the economy suing the oil and gas sector.
In his address to participants at the fifth triennial national delegates’ conference of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) , the Minister of State for Petroleum, Dr. Ibe Kachukwu said “I am just coming back from the Federal Executive Council (FEC) meeting where I made a presentation on gas policy and the document was approved today”.
“We need major changes in policy to make gas a hub of our economy. We must have a stream of earning between petroleum and gas in order to see an improvement in our economy or see the opportunities we are supposed to reap from the oil and gas sector. So, a lot need to happen in the midstream and upstream.
“Gas development remains the new horizon for opportunity. There is so much happening that needs to happen that should have happened yesterday and not begin to happen now in the gas sector. Gas is the future of this country in terms of infrastructure, support, members of staff training and re-training.”
The minister declared that the oil and gas is changing transformatively with the tumbling of prices below $46 despite the intervention of the Organisation of Oil Exporting Countries (OPEC).
