• Contact Us
  • About Us
Monday, June 23, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Energy

FG, World Bank, others verify gas flare sites

metro by metro
December 7, 2017
in Energy
0
0
SHARES
0
VIEWS
gas flare
gas flare

The Programme Coordinator of the Nigerian Gas Flare Commercialisation  Programme, Ministry of Petroleum Resources, Mr. Justice Derefaka, says the federal government has commenced the verification of  gas flare sites across the country.

Derefaka disclosed this at the Gas Buyers’ Forum, organized by the Gas Aggregation Company of Nigeria,in Abuja, on Wednesday.

Read Also

Lagos Issues Order To Regulate Electricity Market Operations

Abuja, Kogi, Two Other States To Experience Darkness As AEDC Workers Threaten Shutdown Of Electricity Supply

REA Launches NEP Legacy Photobook To Mark Nigeria’s Rural Electrification Milestones

He said that the federal government had discovered that there were at least 178 sites where gas were flared, as opposed to 140 sites listed in the past.

He said the verification exercise was conducted in conjunction with the World Bank, United States Agency for International Development, USAID, and the Canadian government.

According to him, the verification is still ongoing, as only 60 per cent of the expected data has been received, while the rest are being awaiting.

He explained that the essence of embarking on the verification exercise was to address issues of bankability and the need to attract investors and financiers to the gas flare commercialisation initiative.

He said that the overall idea was that the country must have a credible, measurable, attainable data that was bankable, so that it would be an investment-grade data for investors and lenders to put their money.

Derefaka noted that by the time investors see that the World Bank had done a lot of studies with the Federal Government, and the remaining sites are verified, they would come in and make investment.

“We have bankability issues, because data is very key to us. Without accurate data, gas flare data, then this programme is dead on arrival.

“What we are doing beyond the data that we have at the National Depository in DPR, is that we are going beyond what they have, and we have sent a special template we designed with the World Bank and the USAID, asking for unique data sets from the producers, and it would amaze you what we found out.

“What we know in this country is that we have 139, 140 gas flare sites, but by our verification with our partners, we found out that we have 178.

“ That in itself is not complete, because we are around 60 per cent, 40 per cent data is missing, some of the information is inaccurate. So we are doing a detailed information request in the DPR office in Lagos.

So,that we send this information and get these things back, then these things might increase.

“In this country, right now, we have 178 gas flare sites, of the 16,000 that we have globally in 19 countries,’’ he said.

He added that daily, around 755 million SCF per day was flared.

The carbon credit we would have gotten from this, the electricity we would have generated, the LPGs and the likes of those, even if they had have to go to any of the LNG trains.”

He noted that the Federal Government would soon carry out a market study, to determine what the buyers need, their appetite; the volume of gas they need, so that it can help the investors understand the needs and demands in the market.(NAN)

Tags: FGgas flareWorld Bank
Previous Post

Gov. Wike gets second term endorsement

Next Post

Senate threatens to arrest NAPIMS GMD

Related Posts

LASG Warns Residents Of Ogun River Banks On Imminent Flooding
Energy

Lagos Issues Order To Regulate Electricity Market Operations

June 11, 2025
Abuja, Kogi, Two Other States To Experience Darkness As AEDC Workers Threaten Shutdown Of Electricity Supply
Energy

Abuja, Kogi, Two Other States To Experience Darkness As AEDC Workers Threaten Shutdown Of Electricity Supply

June 5, 2025
REA Launches NEP Legacy Photobook To Mark Nigeria’s Rural Electrification Milestones
Energy

REA Launches NEP Legacy Photobook To Mark Nigeria’s Rural Electrification Milestones

June 4, 2025
AEDC Attributes Outages To Explosion, Technical Fault As Over 20 Communities Thrown Into Darkness During Easter
Energy

AEDC Staff Electrocuted During Repair Duty In FCT As Consumers Complain Lack Of Power

May 30, 2025
Next Post
Senate

Senate threatens to arrest NAPIMS GMD

Tesla Rolls Out Robotaxis In Texas Test

Tesla Rolls Out Robotaxis In Texas Test

June 23, 2025
Shares Slip, Oil Prices Rise As Investors Weigh Iran Risks

Shares Slip, Oil Prices Rise As Investors Weigh Iran Risks

June 23, 2025
APC Plots To Capture Kano, May Replace Shetima With Kwankwaso As Tinubu’s Running Mate For 2027

APC Plots To Capture Kano, May Replace Shetima With Kwankwaso As Tinubu’s Running Mate For 2027

June 22, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version