BusinessDay’s investigation revealed that Nigeria flared approximately $1 billion worth of natural gas last year, as per data from the Nigeria Gas Flare Tracker. The country, facing a significant power shortage, released about 275.2 million standard cubic feet per day of gas from January to December.
The flared gas could potentially generate 1.13 million megawatts (1,125 gigawatts) of electricity, highlighting the missed opportunity for addressing the country’s power needs.
Experts emphasize the urgency of implementing gas gathering systems to capture and utilize flared gas for electricity generation, offering impoverished communities a pathway to improved living conditions. Collaboration between stakeholders, including the Transmission Company of Nigeria (TCN), is crucial in maintaining grid stability amidst challenges in power generation.
To address the root causes of gas flaring, experts advocate for gas commercialization, robust regulatory frameworks, the development of floating liquefied natural gas (FLNG) facilities, and amendments to the Petroleum Industry Act. These measures are essential for optimizing Nigeria’s natural gas resources and mitigating environmental impacts associated with flaring.
Source: Business Day