Abuja — Country Chair of Shell in Nigeria, Basil Omiyi, has noted that Nigeria needs to use its abundant natural gas resources to grow its energy base.
Omiyi stated this during the Pan-African International Gas Conference in Abuja on Thursday.
He believes that developing the gas sector would help the country meet its growing domestic demand for energy and also generate export revenues that could be used to drive development locally.
According to him, "Nigeria is well positioned to continue to play an important role as gas supplier to the regional and international markets and huge investment and the right commercial framework will be required to actualise these aspirations.
"We also know that much of the world's gas is stranded in parts of North Africa, the Middle East and sub-Saharan Africa, far from the market centres of Asia, Europe and the USA.
"Liquefied Natural Gas, LNG, has proven a viable means of reaching these markets consequently trading in LNG has grown dramatically since 2008," he said.
While noting that there was still considerable potentials for additional greenfield development in the country, he disclosed that "there are plans to expand the NLNG".
Omiyi assured that Shell was committed to ending gas flaring in Nigeria, explaining that the oil giant does not embark on any new project without taking into consideration the economic value of gas.
He lamented that despite generating over 80 per cent of industrial gas used in Nigeria, the company makes little or no money from gas.
He said for the country to attract investment into the sector, there was the need to develop framework that recompense investors.
He stated further that by the end of the year the company would have enough gas to meet the 6n000mw of electricity needs of the country if all its gas was channeled solely to the power sector.
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Gas is one of the best fuels to use environmentally and economically. But develop it slowly, and not for export. You do not need more export revenue. You do need clean fuel, and you have it. But you do have to pay the full price for it. It must be profitable to build, install and maintain the equipment to produce and distribute the gas, or it cannot be sustained. Develop biofuels from wastes and weeds, and try to make your nation the very last to run out of fossil fuel.
Bravo! Omiyi has just invented the wheel. Perhaps Basil can tell us something else we don't already know, like how the slave plantation owners appoint him as plantation overseer to put a black face to do the "master's" dirty work. Shell should just call it quits from Nigerian shores even if the oil reserve would only last 10 more years. We are used to living in the dark anyway, so don't use electricity and ending gas flaring as a carrot now that Shell's contract is due for renewal, when Shell has been clubing the local people into obedience in the last 50 years. Get Lost.