The Department of Petroleum Resources (DPR) has said that Nigeria, the ninth largest gas producing nation in the world, lost over $850 million to gas flaring in 2015, Independent reports.
Pat Maseli, Deputy Director, Head, Upstream (DPR) gave the statistics at the just concluded 10th Annual Sub-Saharan Africa Oil and Gas Conference in Houston, Texas, U.S. Mrs. Maseli said that the development led to a loss of 3,500 megawatts of electricity generation and about $400 million carbon credit value emission. She said, “55 million Barrels of Oil Equivalent (BOE) was lost and 25 million tons of carbon dioxide emitted. The country is recording a decline, but the scale of gas flaring is still worrisome.”
Mrs. Maseli said that prior to now, there were no gas terms in place, but the department had recently developed policies on gas terms and utilisation. This was passed to operators for their input which will subsequently be sent to the National Assembly for its passage. The Gas Master Plan seeks to deliver gas to the commercial sub sector for use as fuel, captive power and related end-use, to consolidate Nigeria’s position and market share in high value export markets.