Gas deals have been signed between the Shell Petroleum Development company (SPDC) alongside a couple of partner companies to the tune of $3.7bn with the Nigerian National Petroleum Corporation (NNPC). The gas deal is set to revamp the country’s midstream sector as well as improve the power-generation efforts within.
The gas deal is to be brokered in 7 major gas development projects that will see to boosting the gas supply deficits and meet the 3.4bn cubic feet volume that has been set to be achieved by 2020. The estimated volume to to be exploited from the 7 projects is about 17.7 trillion cubic feet, which can be used to produce a staggering 15GW of electricity.
The gas and power initiatives are a step closer in ensuring that Nigeria’s citizens have a better access to a good standard of living. Efforts are being made to ensure that the Petroleum Industry Bill as well as crucial laws are approved in order to bring about much needed reform in Nigeria’s energy sector. While crude prices are on the rise, incentives are needed in order to lure attractive investments to the country.
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