The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has sounded the alarm about an impending gas supply crisis, predicting a deficit of 3.1 billion cubic feet per day (bcf) by 2030.
The Chief Executive Officer of NUPRC, Gbenga Komolafe, made this statement on Thursday at the Nigeria Association of Energy Correspondents (NAEC) conference.
Komolav pointed out that gas demand is projected to grow at a compound annual growth rate of 16.6% from 2020 to 2030. Despite forecasts that natural gas production will increase from 8.0 bcf/d in 2020 to 12.2 bcf/d by 2030, he said: This increase would not meet the high demand scenario of 22.2 bcf/d expected in 2030.
Key projects driving this production increase include Nigeria LNG Train 7 and Train 8, the Nigeria-Morocco pipeline, and the Ajaokuta-Kaduna-Kano (AKK) natural gas pipeline project. However, Komolafe stressed that significant challenges in the power sector could dramatically change the demand landscape within the next decade.
To address these challenges, NUPRC is enabling investment in cleaner hydrocarbon development, alongside initiatives such as the Nigeria Gas Flare Commercialization Program (NGFCP), which aims to eradicate flaring and monetize gas. is focused on.
Komorav said the increased investment will ensure the availability of more gas for domestic applications such as liquefied petroleum gas (LPG), power generation and petrochemicals, creating unique opportunities for investors in the sector. emphasized.
