Nigeria is endowed with abundant natural gas resources, which in energy terms, is in excess of the nation’s proven crude oil reserve. Moreso, the gas was discovered whilst searching for crude oil, as no deliberate effort had been made to search for natural gas then. Due to unsustainable exploitation practices coupled with the lack of gas utilisation infrastructures, Nigeria flares a substantial proportion of the gas it produces and the country lags far behind when compared to other oil producing nations in terms of associated gas conservation and utilisation. The nation’s gas sector has proven to have the potential of being a key player in the emergent global natural gas market. In Nigeria, Shell Petroleum Development Company (SPDC) last year, said that it would be expending about $15 billion across 24 oil and gas projects in Nigeria in the next five years.

Source: The Guardian June 10, 2020 04:30 UTC