The Federal Ministry of Petroleum Resources (FMPR) is partnering with the Department of Petroleum Resources (DPR) towards the establishment of the National Gas Transportation Network Code on February 10, 2020.
In a signed statement issued by the Head, Public Affairs, DPR, Mr Paul Osu in Lagos the launching would take place at the 3rd edition of Nigeria International Petroleum Summit at the International Conference Centre (ICC), Abuja.
Osu explained the Nigerian Gas Transportation Network Code was crucial to government’s objective in firming up the country’s domestic gas obligation as well as promoting export trade.
According to him; “The network code will ensure that the wrong quality gas does not go into the pipeline in addition to guaranteeing gas pipeline integrity, open access to pipeline and common understanding on metering”.
“The review of the Network Code licensing framework and development of all its ancillary agreements have been firmed”.
Osu also stressed the code will also supply a uniform platform in terms of guidelines for agreements between buyers and sellers that would bring about transparency and eliminate any form of bottlenecks.
He pointed out the move was a major policy thrust of government to unlock the potential of gas as a resource and revenue earner for the country which President Muhammadu Buhari and the Minister of State, Petroleum, Chief Timipre Sylva are very passionate about it.
According to him; “Nigeria’s natural gas reserves has been on the increase from 2013 and is projected to continue to grow at a conservative rate of about 1.0 per cent”.
“The reserves volume of the operated deep-water acreages in Nigeria is about 21 per cent of the country’s total reserves of liquid hydrocarbons (7.746 Billion Bbls/37.002 Billion Bbls)”.
“Yet the acreages accounted for about 36.08 per cent of the nation’s total production in 2018″.