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Nigerian Petroleum Minister Inaugurates Domestic Gas Pricing Framework

Timpre Sylva, Nigerian Junior Petroleum Minister, has set up a committee to examine the domestic gas pricing framework, even as the Nigerian National Petroleum Company (NNPC) said it has continued to boost its gas production in the country. The NNPC has increased the daily natural gas supply to power plants in April 2020 by 19.14%. 

An appropriate gas pricing system within the country would be supportive to the manufacturing industry, the people of Nigeria, and would certainly bolster the gas industry domestically and internationally, said Sylva.
 
“Without suitable pricing we cannot have it right. We have to make sure that gas becomes economical. That is the only way our country can strive. It is sad to note that we sell gas at affordable prices to investors while the price is high in the domestic sector, and once we solve the issue of gas in Nigeria, we would have solved a lot of problems in Nigeria.”
 
The NNPC revealed that it increased the daily natural gas supply to power plants in April 2020 by 19.14 %, an average 788 million standard cubic feet of gas (mmscfd), and a monthly equivalent of 226.51 standard cubic feet.
 
The NNPC said, “136.44BCF of gas was commercialized, consisting of 36.99BCF and 99.45BCF for the domestic and export market, respectively.
Source : www.ogafnz.com
Posted On: 7/23/2020 12:00:00 AM

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