Gas Flare Commercialisation Yet To Take Off 5 Years After Approval

Gas Flare Commercialisation Yet To Take Off 5 Years After Approval

6/24/2021 4:05:00 AM

Gas Flare Commercialisation Yet To Take Off 5 Years After Approval

Despite that the department of petroleum resources (DPR) has received bids from about 200 companies for the commercialisation of Nigeria’s 45 gas flaring

ADVERTISEMENT“What is holding (up) the programme is COVID-19. Because (the bidders) need access to the flare points…, they have to go and see (them) physically,” he’d said a year ago, adding “We had to officially extend the programme by six weeks.”Yet, speaking a year later at the Nigerian International Petroleum Summit (NIPS) earlier this month, Auwalu still said: “We have received a bid from 200 companies. We evaluated these bids and we are yet to announce the winners.

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“It is the first of its kind in the whole world because we are the first country that will take our flare gas points and turn it into commercial value.”Nigeria continues to lose huge revenues to persistent gas flaring and ranks among the seventh gas flare countries in the world.

NOSDRA, a government-run satellite tracker, said that 1.8 billion standard cubic feet (scf) per day of gas was flared in the last nine years, one that should ordinarily attract about $3.6billion in penalty, little of which was paid.The volume has generated 95.5 million tonnes of CO2 emissions. The flared gas is valued at $6.3 billion and it could generate 179.9 thousand GWh, data from NOSDRA showed. headtopics.com

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