Petroleum Africa
Find us on: 
Thursday, August 9, 2018
Nigeria’s president, Muhammadu Buhari, approved the Flare Gas (Prevention of Waste and Pollution) Regulations 2018. The regulations are to be used for the implementation of the National Gas Flare Commercialization Program (NGFCP), according to a THISDAY report.
The NGFCP Program Manager, Justice Derefaka, disclosed that Nigeria loses approximately $1 billion of revenue to gas flaring because it does not have the capacity to capture and commercialize flared gas in the country.
“We are pleased to inform you that His Excellency, Muhammadu Buhari, the President of the Federal Republic of Nigeria has approved the Flare Gas (Prevention of Waste and Pollution) Regulations 2018 as the regulatory instrument that will underpin the implementation of the NGFCP,” said Derefaka in an email to THISDAY.
He further explained, “We are also pleased to mention that we have completed the design of the key program transactional, commercial framework and documentation. We therefore expect to announce the first bid round for the flare gas to the public within Q3, 2018.”
According to the numbers, approximately 700 Mmcf/d of gas is flared in Nigeria. If that flared gas was properly exploited it could create 300,000 jobs, produce 600,000 metric tons of LPG per annum, as well as generate up to 2,500 MW of electricity from new and existing power stations.
" alt="Uganda Signs its Fourth CPF with International Atomic Authority">
" alt="EcoFlow Introduces Loadshedding Technology to South Africa">
" alt="Trafigura to Commercially Deploy Daphne Technology’s Puremetrics™ on LNG Carrier">
" alt="Seatrium and Shell Inks MOU to Collaborate on Floating Production Systems">
" alt="Wildcat Updates Status in the Republic of Sudan and South Sudan">
" alt="Sinopec Drills China’s Deepest Geothermal Well">
" alt="Getech Inks Three Contracts for Natural Hydrogen Exploration">
