NNPC To Generate Leases To Boost Gas Investment

NNPC To Generate Leases To Boost Gas Investment

- in OIL & GAS
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The Nigerian National Petroleum Corporation is looking to devise a new plan to issue separate leases for gas assets in order to attract more investors to boost output of gas is being worked upon. This is against the backdrop of inadequate domestic gas supply amid huge reserves in the country.

According to Bloomberg, the Group Executive Director, Gas and Power, Nigerian National Petroleum Corporation, said in an interview that gas, over the last few years, has become a very prominent commodity on its own, which requires a life of its own, independent of oil, and that the nation needs companies such as Russian exporter, OAO Gazprom, and Centrica Plc, the United Kingdom’s biggest energy supplier, to enter the market to drive Nigeria’s gas agenda aggressively.

Almost all of the nation’s reserves of 184 trillion cubic feet of gas, the world’s eight-largest, were found in the course of searching for crude oil.

The new plan seeks to provide opportunities for companies specifically exploring for gas, according to Ige.

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  1. BizWatch Nigeria

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  2. Online Publicist

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  3. BizWatch Nigeria

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  5. Alex Yesufu

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