The Nigerian National Petroleum Corporation (NNPC) has said that it plans to double domestic gas production capacity to 2.2 billion standard cubic feet from 1.1 BSCF as it works towards the delivery of the Escravos-Lagos Pipeline System (ELPS) II.
Also, as part of strategies to expand domestic gas production, the NNPC would commence the construction of the Ajaokuta-Kaduna-Kano gas pipeline in the second quarter of 2020 to serve as an enabler to further boost economic activities of the country.
The Managing Director, Mele Kyari said that the recent passage of the Deep Offshore Act into law has set the industry on the path of irreversible growth. “Oil and gas resources have remained the major source of revenue that has kept the wheels of Nigeria moving for over five decades.
Muhammadu Buhari has made it a priority to ensure revenues from oil and gas
resources are utilised to support the emergence and growth of other non-oil sectors
of the economy. “In order to achieve this objective, it means more money will
be required from oil and gas to fund new economic projects outside the oil and
gas industry,” Kyari said.
said that Nigeria was still a net importer of petroleum products due to the
current state of NNPC refineries and the long absence of private investment in
the refining sector.
According to him, the NNPC is inviting investors to key into the revamp and expansion of domestic refining capacity in order to support the growth of the downstream sector and guarantee energy security for the nation.
“We are progressing with the establishment of condensate refineries to fast-track domestic supply of petroleum products. In the same vein, the corporation would support the actualisation of the 650Kbbl per day Dangote Refinery, as well as other private initiatives along this line. Our plan is for Nigeria to become a net exporter of petroleum products by 2023,” Kyari noted. He said that NNPC was leveraging technology and innovation to achieve the goal of building an energy company of global excellence.