NGA to draw over $55bn investment to gas sector

The Nigeria Gas Association (NGA) has said that it is committed to pulling invest­ments worth over $55 billion to the gas sector.
NGA President, Mr. Bolaji Os­unsanya, told newsmen in Lagos yesterday ahead of the body’s forth­coming annual general meeting that the group is “extremely positive of growth in the economy and the po­tentials for growth in key areas such as exploration and production, pro­cessing, supply and distribution.”
According to him, “Turning nat­ural gas into a profit-making venture requires huge investments in infra­structure that will address the five component areas of gas availabili­ty, affordability, deliverability, fund­ing, and legal and regulatory frame­work.”

The government and operators alike, he noted, recognise the basic need to provide legal and regulato­ry framework which would take care of the persistent obstacles, and “to this end, we have scheduled a follow-up roundtable with the National As­sembly (Senate and House Commit­tees on Gas) later in the year.
“This roundtable will provide us with a platform to continue the dia­logue regarding the implementation of initiatives necessary to stimulate growth, stable revenue generation and guarantee long term natural gas exploitation.”
According to him, while the global debate about hydraulic frac­turing for shale gas continues world­wide, closer to home, the discourse about the role of gas in Africa’s ener­gy mix, particularly Nigeria, should continue.
Therefore, “the NGA continues to probe the current state of the nat­ural gas industry in Nigeria in addi­tion to evaluating the potential for its future development,” he added.
“At the start of 2016, we held sep­arate engagement sessions with the Senate and House Committees on Gas to present the association’s view on gas policy framework required to spur sector diversification, pow­er generation and subsequent eco­nomic growth.”