Gas flaring has plagued both the environment and the power sector for years and recent reports from the Department of Petroleum Resources, DPR have shown that Nigeria is said to have lost $850 million to gas flaring in 2015 and that number is set to increase in the coming years.
Deputy Director and Head Upstream, DPR, Mrs. Pat Maseli stated that no fewer than 55 million barrels of oil equivalent (BOE) was also lost, while 25 million tons of carbon dioxide was emitted within the period under review and this equates to about 3,500 MW.
“Though the country is recording decline, the scale of gas flaring is still worrisome,” she said. Giving an account of efforts made by DPR to maximize the use of gas in the country, Maseli explained that the regulator has developed policies on gas terms and utilization which had been passed to operators for their input before onward dispatch to the National Assembly for passage.
“The master plan will create a regional hub for gas-based industries such as fertilizer, petrochemical, and methanol. It will transform gas sector to value adding sector in a bid to consolidate Nigeria’s position and market share in high value export markets,” she said.