Petroleum Africa
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Wednesday, March 19, 2014
Nigerian power plants will see a gradual rise in the feedstock gas prices to move them closer to international market prices, in a move aimed at attracting more investment to tackle the supply crisis in the country’s power sector. According to NNPC’s director in charge of gas and power David Ige, the price of gas for power plants will rise to $2/MMBtu from $1/MMBtu by the end of this year, and also raise the price of gas for industrial users to $3/MMBtu from $2/MMBtu.
“The government has continued to develop new gas supply projects to meet the projected demand especially in the gas sector, and to do this we want to ensure that gas prices are competitive,” said Ige. “We will have a gradual increment in domestic gas prices so that we will achieve export parity by early next year.”
Ige said the recent reform introduced by Nigeria in the gas sector, including the review in prices and embarking on new infrastructure, are geared towards doubling domestic gas supply to 3 Bcf/d by 2016.
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