News hotlines: 08111813019, 08025868561
Email: email@example.com, firstname.lastname@example.org
The Chairman and Managing Director of Chevron Nigeria Limited (CNL), Jeff Ewing has called on stakeholders in the Nigerian gas industry to support and enable the willing seller – willing buyer gas pricing model, to ensure the viability of the sector.
In his presentation at the 11th Edition of the Nigerian Gas Association (NGA) Conference in Abuja, he called for the privatization of the various value chain sectors, as part of measures to untangle the bottle necks in the industry.
Ewing, represented by the Director, Downstream Gas, Mr. Sanjay Narasimhalu, averred that opportunities for investments into the Nigerian gas sector were enormous and salutary to both old and new investors.
According to him, the opportunities include, “Transitioning from an oil-based economy to a more integrated oil and gas economy and end routine gas flaring”.
“There is need for deliberate exploration for non-associated gas to support the Nigeria Gas Master Plan, with a focus on high liquid yield non-associated gas resources to optimize the gas development project economics.
“Growth of new industries made possible from the abundant resources and competitively priced gas supply”.
Chevron boss noted that CNL has contributed immensely to the Nigerian government’s gas master plan through the various gas projects it has embarked on and that the company is the highest contributor of high quality gas to the domestic market in Nigeria since 2015.
However, while appreciating the talents in the industry, he observed that the workforce that make things happen he stated that through investments in gathering and processing of associated gas, routine flaring has been reduced by over 90% from 2008 to 2017 in CNL’s operations.
Continuing, he added that the company has made significant effort in the gas sector development in Nigeria, and made it clear that “CNL is optimistic about the future of oil and gas business in Nigeria. We have been making significant investments in the country for over 50 years and expect to do so for many more years to come”
Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.