Strategic Development Plan Will Boost Both Export And Domestic Gas- NLNG MD

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Yemisi Izuora
The Managing Director of Nigeria Liquefied Natural Gas Limited NLNG, Tony Attah, at ther ecently concluded Nigerian Economic Summit in Abuja, said that a long term strategic development plan would encourage investments, improve infrastructure   in   the   country   and   boost   production   of   both   export   and domestic gas.
Chairing a  breakout   panel discussion  at  the Energy  Session  of   the 23rdNigerian   Economic   Summit   (NES)   titled   “Exploring   private   sector opportunities and investment in gas,” Attah remarked that the gas export business   could   easily   attract   more   investments   which   can   be   used   to develop   the   much   needed   infrastructure   to   unlock   and   unleash   the potentials of proven and unproven gas reserves of 187 and 600 trillion cubic feet (tcf) respectively in the country.
 He added that this can only be enabled   via   the   right   policies,   legislation   and   incentives   to   drive investments in the sector.
Commenting on the potential of gas in Nigeria, Attah stressed that it was time   for   gas   development   in   Nigeria,   adding   that   the   industry   can stimulate growth in every sector of the economy especially agriculture,industries and power, but it will only do so if factors currently inhibiting rapid growth are respectively addressed.
“Underinvestment   in   appraisal   and   exploration   activities   due   to inconsistent   policies,   unattractive   commercial   framework,   security   of investments,   etc.   invariably   impact   gas   reserves,   production,   and commercialization”, he observed.
Summarising   short   to   long   term  solutions   reached  by   the   panel,   Attah stated that the gas industry should be liberalised and a climate of willing seller and willing buyer should   drive  gas   price,   rather   than   the   current practice of price capping.

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