THE Group General Manager (GMD) of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, on Monday, said about $51 billion investment opportunity still exists in gas processing and transmission and general infrastructure development in Nigeria.
Dr. Baru also added that plan was in place to close the shortfall in demand of about 4.7 Bcfd by 2020 through the development of the 7-big bang projects which would deliver about 3.4 Bcfd in the short to medium term and 7 Bcfd in the long term.
Delivering his speech, tagged: “New Growth Phase for Gas Business in Nigeria” at the Nigerian Gas Association 10th International Conference and Exhibition in Abuja, the GMD said about $35.4 billion investment opportunity could be derived through gas exploration and production, power plants, fertilizer plants, as well as virtual pipeline and flare gas commercialisation.
He stressed further that $16 billion investment opportunity still exists in pipeline milling and fabrication yards, FTZ infrastructure development and concession, port infrastructure, central processing facilities, gas transmission pipelines, as well as LPG plants and real estate development.
The GMD said the pragmatic road map to grow power generation capacity by at least 3-folds within the next four years has been designed, and strategic aspiration was to convert P3 reserve to 2P commercial category and also initiate deliberate exploration for the 600 TCF undiscovered gas resources.