As the Federal Ministry of Petroleum Resources follows all needed due diligence in driving efforts towards Gas flare Commercialization (GFC) through the activities of the Nigerian Gas Flare Commercialization Programme (NGFCP), the Program Manager, Mr. Justice Derefaka has opened up on expected multiplier effects of the scheme on the long-run.
Giving update on the build up to the final stage of the bidding process for allocation gas flare sites to successful investors in Abuja, he averred that “NGFCP had the potential of generating approximately $3.5bn of inward investment even as the potential Gross Domestic Product (GDP) impact may jump to over $1bn per annum.”
According to him, “The effective completion of the bidding processes and takeoff of gas falre commercialization could potentially unlock two to three liquefied natural gas trains, around 3000 megawatts of electricity generation as well as generate about 600,000 metric tonnes of liquefied petroleum gas per year, giving six million households access to clean energy through LPG.”
Derefaka also revealed that “The programme could also bring inflow of new infrastructure players to enable gas uptake and usage in previously unreachable regions and business development from gas companies to unlock new domestic markets for gas.”
Business Hilights recalls that earlier this week, the 205 applicants who emerged successful by attaining a ‘pass status’ in accordance with the provisions of applicable regulations, guidelines and standard DPR practices for bid evaluation out of a total of 238 SOQ entries submitted, were drilled in a workshop in line with the activities ahead of the final stage of the bidding process.
A letter signed on behalf of the ministry’s Permanent Secretary by the Director, Special Duties/Alternate Chairman, NGFCP, Mr. Andrew Agi, had informed the 205 bidder that pursuant to their submission of Statement of Qualification in response to the request for qualification package of the NGFCP, their applications are successful and that they are to attend a workshop in continuation of the process from Monday, August 19, 2019 at the PTDF Conference Room, Abuja.
