NUPRC warns Nigeria may face gas shortfall by 2030

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Thursday called for the upgrade of the country’s gas infrastructure to meet immediate needs.

NUPRC made the call at the Association of Energy Correspondents of Nigeria (NAEC) Conference 2024 held in Lagos.

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The organization warned that Nigeria may experience a gas supply shortfall of 3.1 billion cubic feet (bcf) per day by 2030 if measures are not put in place to upgrade its gas infrastructure and increase investments in renewables.

In his address at the event, the NUPRC Chief Executive Officer, Gbenga Komolafe, noted that growth in gas demand currently outstrips supply, driven largely by growth in domestic demand.

Komolafe, who was represented at the event by the Director, Lagos Regional Officer, Paul Osu said the demand for gas is expected to grow at a compound annual growth rate of 16.6 percent per year.

He stressed that Nigeria may face an impending gas supply crisis with a potential shortfall of 3.1 bcf/day by 2030.

The NUPRC chief, however, said natural gas production would increase from 8.0bcf/d in 2020 to 12.2bcf/d in 2030.

He said: “In just a decade, the demand landscape could change exponentially, especially if the power sector challenges are resolved. The import of this is to showcase opportunities in gas development in the Nigerian upstream sector and the need to complement hydrocarbon developments with renewables.”

On his part, the Chief Executive Officer, Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouq Ahmed, said energy security is crucial for Nigeria’s economic growth.

He said Nigeria still flares about 2.5bcf of gas daily.

Ahmed said: “This wasted resource could generate enough electricity for our energy/power needs. The Decade of Gas initiative seeks to end this waste, ensuring that by 2030, has contributed significantly to our energy mix, adding up to 5,000 Mega Watts (MW), to the national grid and reducing our reliance on imported fuels.

“As we invest in gas infrastructure, we must also ensure we diversify our energy sources and reduce dependency on any single fuel.”

By: Babajide Okeowo
 

 

 

The post NUPRC warns Nigeria may face gas shortfall by 2030 appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

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