Government to commercialise gas flaring by Q1 2017

Barring any unforeseen circumstances, the Federal Government has set aside Q1 2017 for the commercialisation of gas flaring in the country and total flare out by 2020. Besides, exploration and development of new gas supply sources from the inland and offshore basins is to be actively encouraged, while gas terms for PSCs will be produced before the end of 2016. The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, disclosed this on Monday in Lagos, at the 10th International Gas Conference and Exhibition, organised by the Nigerian Gas Association (NGA). Kachikwu, who hinted that government has developed a Draft National Gas Policy, explained that the policy will promote a competitive business environment for both current and new investors, articulates government’s vision for the sector and sets policy goals. It will also set out strategies and an implementation plan for medium to long-term targets for gas market development. According to him, government’s vision for the Gas sector is to be an attractive gas-based industrial nation, giving primary attention to meeting local gas demand requirements, and developing a significant presence in international markets.  Read more http://guardian.ng/