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Tuesday, December 2, 2014
In Nigeria the government launched a gas flare tracking system to assist regulators in monitoring the amount of gas flared by oil companies operating in Nigeria.
The system was launched in Abuja by Nigeria’s Minister of Environment, Laurentia Mallam. The Minister said the tracker has the ability to determine the amount of unpaid fines by oil companies estimated at $1.1 billion per year.
“The opportunity cost of gas flaring is the amount of power that could have been generated had the gas been channeled to the power sector. The gas to power potential is enormous and is estimated at 27,612 Gwh.This would effectively double Nigeria’s current electricity target for 2014 and could provide 40% of Nigeria’s total electricity requirements based on a current needs assessment,” she said. The gas tracker is able to display the volume of gas flared and also has the ability to calculate the amount of unpaid fines by facility owners, estimated at $1.1 billion per annum.
The system is located at the National Oil Spill Detection and Response Agency (NOSDRA) and was funded by the UK through its Department for International Development (DFID).
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